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Aramco plans to acquire 49% stake in AI startup HUMAIN
Aramco plans to acquire a 49% stake in AI startup HUMAIN by transferring key AI assets and investing about 9.9 billion Saudi riyals. Saudi sovereign wealth fund PIF, previously the company’s sole owner, will retain 51%. Both shareholders will contribute AI assets, capabilities and talent, and oversee HUMAIN’s expansion plans.
What to know
- 01
PIF and Aramco will oversee HUMAIN’s expansion plans and provide the company with AI resources and talent.
- 02
Aramco expects to use HUMAIN’s AI infrastructure to bring advanced AI into industrial applications and strengthen its operations.
Why it matters
The proposed investment links HUMAIN’s expansion plans with Aramco’s expected industrial use of AI.
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