Saudi Aramco to Buy 49% Stake in AI Startup HUMAIN

HUMAIN, an AI startup fully owned by Saudi Arabia's sovereign wealth fund PIF, announced that Saudi Aramco, the world's largest petrochemical company, will buy a 49% stake in it. PIF will keep the remaining 51%.

Under the deal, Aramco will pay by transferring key AI assets and investing about 9.9 billion Saudi riyals, which is around 17.55 billion yuan.

After the deal, both shareholders will bring their AI assets, capabilities and talent to HUMAIN and oversee its business expansion. Aramco plans to use HUMAIN's AI infrastructure to turn advanced AI into industrial applications and strengthen its global ecosystem and operations.