Aramco completes 49% acquisition of Saudi AI firm HUMAIN

Saudi energy giant Aramco, through its wholly owned subsidiary Saudi Aramco Development Company, has finalized the acquisition of a 49% stake in national AI company HUMAIN. The transaction involved approximately SAR 9.9 billion ($2.6 billion) in cash, along with contributions of AI, compute, and digital assets. The Public Investment Fund (PIF) will maintain a 51% majority share in HUMAIN, which plans to deploy 3 gigawatts of AI data center capacity by 2030.