Startup Wrap: Regional tech companies advance funding, acquisitions and cross-border growth

RIYADH: Technology companies connected to the Middle East attracted new capital and completed strategic transactions this week, with activity spanning artificial intelligence, advertising infrastructure, trade finance and food delivery.

Aramco acquires 49% of Humain

Saudi Aramco completed the acquisition of a 49 percent stake in Saudi AI company Humain through a wholly owned subsidiary, while the Public Investment Fund retained 51 percent.

Aramco will contribute approximately SR9.9 billion ($2.64 billion) in cash during 2026, alongside AI, computing and digital assets. Both shareholders will also provide technology capabilities and personnel.

Launched by the Public Investment Fund in May 2025, Humain develops data centres, high-performance computing infrastructure, cloud platforms, advanced AI models and applications for individual industries.