Aramco: PIF and Aramco close HUMAIN transaction to accelerate HUMAIN's global growth. Published on 11/01/2026 at 01:03 am EST * As HUMAIN's shareholders, PIF and Aramco will oversee the company's ambitious expansion plans to unlock new value creation opportunities in the AI sector * PIF retains a 51% stake in HUMAIN, while Aramco acquires a 49% stake by transferring key AI assets and contributing approximately SAR 9.9 billion ($2.6 billion) in cash in 2026 to HUMAIN * Transaction supports HUMAIN's rapid scaling to meet growing regional and global demand for AI compute, with the planned deployment of 3 gigawatts of AI data center capacity by 2030 PIF and Aramco today announced the closing of a transaction in which Aramco, through a wholly owned subsidiary, acquires a 49% stake in HUMAIN, with PIF retaining 51% ownership. The transaction will further accelerate HUMAIN's growth and advance its full range of AI capabilities globally, with PIF and Aramco contributing AI assets, capabilities, and talent. 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. Additionally, it will further enable HUMAIN's plans to develop data center capacity by 2030 and deliver solutions that help the public and private sectors to deploy AI at scale. The transaction builds on Saudi Arabia's efforts to further enable the development and deployment of the most advanced data and AI technologies while attracting talent and investment opportunities. PIF's strategy for AI and the digital economy benefits from Saudi Arabia's position as a globally competitive market through innovation and capacity building. Partnering with Aramco in HUMAIN aligns with PIF 2026-2030 strategy, which aims to deepen integration across economic ecosystems, expand opportunities with the private sector, and accelerate the growth of national companies into globally competitive leaders. Aramco is expected to leverage HUMAIN's AI infrastructure to translate advanced AI capabilities into industrial applications, further enhancing its global ecosystem and operations. Aramco, together with its affiliates, will benefit as a shareholder and strategic partner from HUMAIN's advanced AI infrastructure and services. With opportunities for revenue growth and attractive margins, this partnership is expected to enhance Aramco's monetization of existing AI and digital assets, support its broader strategy, and complement its core energy business. Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: "Bringing PIF and Aramco's AI portfolio of investments together under HUMAIN creates a powerful synergy that fuels talent growth, technological advancement, and intellectual property creation. Fully aligned with PIF's strategic objectives, this transaction accelerates HUMAIN's growth into a global leader in the sector, strengthening AI as an enabler of PIF's six ecosystems and further expanding private sector participation across our portfolio while advancing the development of cutting-edge technologies in Saudi Arabia." Amin H. Nasser, Aramco President & CEO, said: "The HUMAIN deal is very important to Aramco, building on the company's long track record of innovation and technology. We are proud of our achieved progress in developing and deploying advanced digital and AI technologies to enhance performance across the oil and gas sectors. Since 2023, Aramco has achieved $11.3 billion in Technology Realized Value, with a significant portion coming from AI solutions. This partnership with PIF strengthens Aramco's position as a global technology leader and AI powerhouse, while laying the foundation for localizing the AI industry and enabling faster, more integrated, and scalable deployment of AI systems. AI will therefore play a vital role in the future of business. We are delighted to collaborate with PIF to help shape the future of AI regionally and globally." The transaction involves approximately SAR 9.9 billion ($2.6 billion) in cash contributions in 2026 from Aramco to HUMAIN, in addition to AI, compute, and digital assets. Launched in May 2025, HUMAIN is building full-stack AI capabilities across four core areas: next-generation data centers; hyper-performance infrastructure and cloud platforms; advanced AI models including ALLaM, one of the world's most powerful multimodal Arabic large language models (LLMs); and transformative AI solutions. Through the deployment of 3 gigawatts of AI data center capacity by 2030, HUMAIN is rapidly scaling to meet growing regional and global demand for AI compute, with the aim of becoming one of the leading exporters of AI globally. Aramco is one of the world's leading integrated energy and chemicals companies, creating value across the hydrocarbon chain and delivering societal and economic benefits to people and communities around the globe. PIF is one of the world's most impactful investors, with a long-term investment strategy to further drive the economic transformation of Saudi Arabia and deliver sustainable financial returns. Attachments * Original document * Permalink Disclaimer Saudi Aramco - Saudi Arabian Oil Company published this content on November 01, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 01, 2026 at 06:02 UTC. (C) Publicnow - 2026

Saudi Arabia wins top honors at 2026 PMI Awards. Saudi Arabia secured several major recognitions at the ceremony. Saudi Aramco earned the Project of the Year Award and took first place in the Construction category for its Hawiyah Unayzah Gas Reservoir Storage Program. In addition, the Saudi Irrigation Organization won in the Sustainability category for its initiative to rationalize irrigation water consumption and improve operational efficiency. Furthermore, the Saudi Ministry of Human Resources and Social Development received two titles: World PMO of the Year and Middle East PMO of the Year. The recognition highlighted the ministry's project management office performance, leadership, and value delivery across public administration initiatives tied to the Kingdom's modern economy. Energy and environmental project delivery. The Hawiyah Unayzah Gas Reservoir Storage Program managed seasonal natural gas demand by utilizing a depleted reservoir for storage and reproduction during peak periods. Specifically, the initiative was designed to support operational resilience and energy security through specialized engineering practices. Meanwhile, the Saudi Irrigation Organization carried out its water conservation project in direct partnership with the Food and Agriculture Organization of the United Nations (FAO). The program focused on increasing irrigation efficiency, introducing modern tracking mechanisms, and advancing sustainable farming practices to resolve critical water management challenges. Regional leadership and chapter recognitions. Beyond national infrastructure, individual leaders and regional branches received recognition at the 2026 PMI Awards. Mona Zbidi of the PMI Tunisia Chapter received the Chapter Leadership Impact Award for the MENA region, acknowledging her volunteer contributions to the regional professional community. At the same time, the PMI UAE Chapter reached the final selection stage for the global Chapter of the Year Award. The designation noted the chapter's active role in organizing professional development, knowledge exchange, and technical networking across the regional workforce. "The achievements recognized at this year's PMI Awards reflect the strength of project leadership and expertise across the Middle East and North Africa. From energy security and sustainability to building stronger professional communities, these projects demonstrate what our region is capable of delivering." Hanny Alshazly, Managing Director for MENA at PMI Long-Term focus on professional capabilities. The annual program has acknowledged international project excellence since 1974. As regional governments implement large development programs, formal project management standards have grown increasingly central to regional education and workforce development efforts. Alshazly noted that PMI continues to focus on developing subsequent generations of project managers across MENA to meet regional transformation targets. The institute stated that building project capabilities remains essential to turning large-scale regional development initiatives into durable operating outcomes.