Oil and gas conglomerate Saudi Aramco will be acquiring a minority stake in home-grown Saudi Arabian AI startup HUMAIN, as per an official press release.
The investment is part of an agreement between Aramco and the Public Investment Fund, who as of now, is the majority shareholder.
The update comes alongside the successful close of an $11 billion lease and leaseback deal with an investor consortium led by Global Infrastructure Partners.
HUMAIN was launched in May 2025 and is the Kingdom’s response to growing competition in the AI sector with plans to capture growth as valuations soar. Part of these growth plans includes the debut of a new OS product that will have artificial intelligence powering it.
“By combining PIF and Aramco’s AI assets under HUMAIN, we are fueling AI talent, innovation and intellectual property, while aligning and accelerating future investment opportunities,” said PIF’s Head of MENA investments Yazeed A Al.Humied.
HUMAIN has been considering and entering into multiple partnerships with U.S. firms in a bid to boost its own offerings, such as an agreement with Qualcomm for its chips and reported talks with private equity firms BlackRock and Blackstone for investment.