PIF and Aramco today announced the signing of a non-binding term sheet outlining the key terms for Aramco to acquire a significant minority stake in HUMAIN, a PIF company, advancing a full range of AI capabilities globally.
PIF and Aramco would contribute AI assets, capabilities and talent into HUMAIN, with PIF and Aramco as its shareholders. PIF would continue to own the majority of HUMAIN. The intention is to enable the rapid scaling up of HUMAIN's operations to capture value and accelerate its growth in the AI sector.
The proposed transaction is expected to further establish Saudi Arabia as a global leader in enabling the most advanced data and AI technologies and in attracting talents and investment opportunities.
← Back to News