Oil giant Aramco takes 49% stake in Saudi AI company
Source: Free Malaysia Today
Published on: 2026-11-01 10:13
Aramco will inject about US$2.6 billion in cash and assets into Humain as the AI firm seeks to expand its capabilities and meet rising demand. ARAMCO: Oil major Saudi Aramco said it was taking a 49% stake in state-backed AI company Humain on Sunday, injecting cash and assets as the tech firm tries to scale up to meet rising demand. The Public Investment Fund (PIF), the Saudi sovereign wealth fund driving economic diversification efforts, will retain the other 51%, they said in a joint statement. Aramco, cornerstone of the oil-reliant Saudi economy, has been planning a significant minority stake for at least a year in Humain, which launched in May 2025. "The transaction will further accelerate Humain's growth and advance its full range of AI capabilities globally, with PIF and Aramco contributing AI assets, capabilities, and talent," the statement said. The Aramco stake, via a wholly...
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