European Commission Approves Acquisition of Human by Aramco and Public Investment Fund

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The European Commission has approved, under the EU Merger Regulation, a joint acquisition of Human by Saudi Aramco and the Public Investment Fund. According to a Commission statement, the deal mainly concerns the market for developing and managing AI technologies and infrastructure, noting that the notified transaction underwent a simplified merger review procedure. The Commission clarified that the notified transaction will not raise competition concerns, given its limited impact on the European Economic Area and the limited combined market share of the two companies as a result of the proposed transaction. It is noted that Human was launched in May 2025, and the company is building a comprehensive set of AI capabilities across four core areas: next-generation data centers, high-performance infrastructure and cloud computing, advanced AI models including one of the world's most powerful large multi-modal language models for Arabic, in addition to innovative AI solutions. According to Argaam data, in October 2025, the Public Investment Fund and Saudi Aramco signed a non-binding memorandum of terms outlining the key terms for Saudi Aramco to acquire a significant minority stake in Human, which is owned by the Fund.

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