Article · AI translation
IT Home reported on November 2 that HUMAIN, an artificial intelligence startup previously wholly owned by Saudi Arabia’s sovereign wealth fund PIF, announced on the 1st of this month, local time, that Saudi Aramco (Aramco), the world’s largest petrochemical company, will acquire a 49% stake in the company, while PIF will retain the remaining 51%.
Saudi Aramco plans to make the investment by transferring key artificial intelligence assets and injecting approximately 9.9 billion Saudi riyals (IT Home note: currently equivalent to about 17.55 billion yuan). The two shareholders will each contribute their artificial intelligence assets, capabilities and talent to HUMAIN, and oversee HUMAIN’s business expansion plans.
Saudi Aramco expects to use HUMAIN’s artificial intelligence infrastructure to turn advanced artificial intelligence capabilities into industrial applications, further strengthening its global ecosystem and operational capabilities.