PIF and Aramco to combine their artificial intelligence (AI) programs and work jointly through HUMAIN
Saudi Arabia’s Public Investment Fund (PIF) and Aramco announced plans to combine their artificial intelligence (AI) programs through HUMAIN, a PIF-owned company, to strengthen the kingdom’s position as a global AI leader. Under a newly signed non-binding term sheet, Aramco will acquire a significant minority stake in HUMAIN, while both parties contribute AI assets, expertise, and talent. PIF will retain majority ownership.
The move is aimed at accelerating HUMAIN’s growth and developing advanced AI infrastructure, cloud capabilities, and large language models such as ALLAM. PIF Deputy Governor Yazeed A. Al-Humied said the partnership aligns with Saudi Arabia’s goal to become a globally competitive AI hub. Aramco CEO Amin H. Nasser noted that the collaboration would boost industrial AI innovation, efficiency, and sustainability.
Completion of the deal remains subject to regulatory approvals and final agreements.
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We expect the benchmark to trade within the 1,725–1,740 range today.
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