Aramco buys 49% stake in AI firm Humain for $2.6B

 Saudi Arabia's Public Investment Fund (PIF) and oil giant Aramco have completed a transaction under which the latter acquired a 49% stake in artificial intelligence company HUMAIN for $2.6 billion, with PIF retaining a 51% controlling interest.

"The transaction will accelerate HUMAIN's ambition to build a globally competitive, integrated AI ecosystem spanning the full stack: from data centers and high-performance compute to advanced models, applications, and industry solutions," the firms said.

The partnership also supports HUMAIN's planned deployment of 3 gigawatts of AI data center capacity by 2030. Aramco is expected to leverage HUMAIN's infrastructure to expand AI applications across its industrial operations and generate additional revenue from its digital assets. The transaction also supports Saudi Arabia's broader ambition to attract investment and establish itself as a global AI hub.

https://breakingthenews.net/Article/Aramco-buys-49-stake-in-AI-firm-Humain-for-dollar2.6B/67451597