Saudi Arabia Public Investment Fund and Saudi Aramco Close Major Strategic Transaction to Accelerate Artificial Intelligence Expansion Through HUMAIN
The Public Investment Fund and Saudi Aramco officially closed a transaction where Saudi Aramco, through a wholly owned subsidiary, acquired a forty-nine percent stake in artificial intelligence company HUMAIN by contributing key artificial intelligence assets and approximately nine billion nine hundred million Saudi riyals, equivalent to two billion six hundred million United States dollars, in cash. The Public Investment Fund retains fifty-one percent ownership, with both entities collaborating to scale global artificial intelligence capabilities, support advanced computing and data center infrastructure aiming for three gigawatts of capacity by two thousand thirty, and advance Saudi Arabia's technological transformation.