Saudi Aramco takes a stake in an AI company.

Saudi oil giant Saudi Aramco announced on November 1 that it will hold a 49% stake in AI company HUMAIN, injecting cash and assets to help the technology company scale up and meet growing demand. The Saudi sovereign wealth fund, the Public Investment Fund, will retain the remaining 51% stake. Saudi Aramco will inject approximately 9.9 billion Saudi riyals into HUMAIN this year and invest in AI computing infrastructure and digital assets.