Saudi Arabia: Aramco acquires 49 per cent of Humain, a $2.6 billion investment in AI

(Il Sole 24 Ore Radiocor) - The Saudi sovereign wealth fund PIF and Aramco have announced the completion of a transaction under which Aramco, through a wholly-owned subsidiary, acquires a 49 per cent stake in Humain, whilst PIF retains control with a 51 per cent stake. The transaction involves a cash injection by Aramco into Humain of approximately 9.9 billion Saudi riyals (2.6 billion dollars) in 2026, as well as the transfer of assets in the fields of artificial intelligence, computing power and digital technologies. According to the company’s statement, the deal aims to accelerate Humain’s growth and the development of its capabilities in the field of artificial intelligence on a global scale, by pooling the assets, expertise and talent of both partners. The agreement aims to accelerate Humain’s ambition to build a globally competitive, integrated artificial intelligence ecosystem covering the entire value chain: from data centres and high-performance computing infrastructure to advanced models, applications and industrial solutions. The deal will also support the company’s plans to develop data centre capabilities by 2030 and to provide solutions enabling both the public and private sectors to adopt artificial intelligence on a large scale.

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