Aramco and PIF Consolidate Saudi AI Infrastructure

Saudi Aramco has completed its acquisition of a 49 percent stake in Humain. The Public Investment Fund retains 51 percent, putting the two institutions at the center of a company building data centres, computing infrastructure and AI services. Aramco will contribute approximately SR9.9 billion ($2.64 billion) in cash during 2026, along with AI, computing and digital assets. Both shareholders will contribute technology capabilities and personnel.

Who controls the infrastructure

The Public Investment Fund launched Humain in May 2025. The company develops data centres, high-performance computing infrastructure, cloud platforms, advanced AI models and applications for individual industries. It plans to develop 3 gigawatts of AI data-centre capacity by 2030. Aramco expects to use Humain’s infrastructure and services to expand AI applications across its industrial operations.

Aramco said it had generated $11.3 billion in realized value from technology since 2023, with AI accounting for a significant portion. The transaction will bring additional AI assets into Humain. Its model portfolio includes ALLaM, a multimodal Arabic large language model, and Humain is developing computing capacity to serve regional and international demand.

The ownership figures are explicit. Details of another Humain transaction aren’t: the company brought Riyadh-based AI and cloud technology company CNTXT into its operations, but the terms weren’t disclosed. Founded in 2022, CNTXT provides cloud transformation, data analytics and AI services to public- and private-sector organizations, along with cybersecurity, enterprise integration and managed technology services.

Humain will fold CNTXT’s staff, products and client relationships into its wider operation. The company says the combined platform will support customers across AI adoption, from strategy and infrastructure to deployment, integration, cybersecurity, ongoing operations and technical support. The expansion adds corporate technology implementation to Humain’s existing computing, infrastructure, models and cybersecurity offering for government and corporate customers.

Capital, platforms and customers

Omani fintech mamun raised $3 million in a seed round led by Phaze Ventures through its Oman Fund, with participation from UAE-based Jasoor Ventures. Founded in 2019, mamun connects businesses with investors for trade and working-capital financing through a Shariah-compliant platform. Oman’s Financial Services Authority licenses the company under the country’s crowdfunding framework. Its AI-powered underwriting assesses businesses, buyers, contracts, shipping documents and trading histories.

Headquartered in Muscat, mamun also maintains entities in Abu Dhabi and Hong Kong. Around 40 percent of its trade-finance settlements pass through Hong Kong-based institutions and businesses. The company plans to expand trade origination and underwriting and increase cross-border financing along the Greater Bay Area–Oman–UAE trade corridor. Figures cited by the company show Oman’s non-oil exports rose about 10 percent during the first seven months of 2026, while re-exports increased 13.6 percent.

Advertising technology startup Journify raised $12 million in a series A round led by Al Mada Ventures and co-led by existing investor Silicon Badia. Shorooq and Bunat Ventures increased their investments, while Du Ventures and Oraseya Capital joined. Journify said the financing valued the business at four times its previous level. Founded in 2022, the company connects customer interactions and sales data across online and offline channels, giving advertising platforms purchase, registration and in-store sales information.

Journify serves more than 100 businesses and reported more than fivefold revenue growth since Silicon Badia’s initial investment. Its system connects Google, Meta, TikTok, Snap and Amazon Ads with verified customer outcomes. The company plans to use the capital for US and European expansion and stronger AI-based advertising-data monitoring. Its customers include Saudi retailer Jarir Bookstore and e-commerce company Baytonia.

Shared infrastructure, undisclosed terms

Syrian food technology startup Percent Labs closed an undisclosed seed round at a valuation exceeding $1 million, backed by Syrian angel investors based outside the country. Founded in 2025, the company develops delivery-focused food brands using shared cloud-kitchen infrastructure. Several food businesses can share production facilities instead of maintaining separate restaurants.

Percent Labs processes more than 10,000 orders per month and uses AI to analyze operational data and support decisions across its food brands. The capital will support additional production capacity, new products and further brand launches. The company aims to exceed 40,000 monthly orders within 18 months. Its model is designed to reduce operating expenses and let brands launch without the capital costs of separate restaurant locations. Across these deals, disclosed figures track ownership, investment, capacity and customer reach; some terms, including CNTXT’s and Percent Labs’ seed amount, remain undisclosed.