PIF and Aramco have signed a non-binding term sheet to enhance HUMAIN's AI capabilities, aiming to position Saudi Arabia as a global leader in artificial intelligence.

Information on the Target

HUMAIN, a subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, specializes in artificial intelligence (AI) solutions and services. It encompasses a suite of products, including advanced data centers, cloud-based capabilities, and sophisticated AI models tailored for diverse applications. The company is focused on establishing a significant presence in the global AI landscape, aiming to position Saudi Arabia as a leading hub for AI innovations and services.

The collaboration between PIF and Aramco intends to leverage HUMAIN's existing assets and capabilities while attracting valuable talent in the AI sector, facilitating rapid scale-up of operations to maximize value and enhance growth in the industry.

Industry Overview in Saudi Arabia

Saudi Arabia has been investing heavily in artificial intelligence as part of its broader Vision 2030 initiative, which aims to diversify the economy and reduce dependence on oil revenues. The country is focused on fostering technological advanc