Saudia Aramco bets on AI transformation: creating the world's third largest artificial intelligence powerhouse with cheap energy

The CEO of Saudi Aramco, the world's largest oil company, Amin Nasser, has publicly stated that Saudi Arabia will rely on its abundant cheap natural gas and renewable energy resources to transform the country into a global leader in the field of artificial intelligence. Earlier, in late October, Saudi Aramco disclosed plans to acquire a significant minority stake in the emerging artificial intelligence company Humain. Humain was founded in May 2025 with the Saudi sovereign fund PIF as the majority shareholder. Nasser emphasized that Humain will be developed into Saudi Arabia's national leading artificial intelligence enterprise and is committed to becoming a global leader in the field. Humain's CEO, Tarek Amin, had previously indicated that Saudi Arabia's goal is to become the world's third largest artificial intelligence power, after the United States and China. Nasser highlighted the advantages by stating, "If renewable energy is sought, Saudi Arabia has the lowest cost supply; if natural gas is needed, it also has the lowest cost resources. Not only is there an abundance of energy, but the land is also sufficient to support all facility construction." It is understood that artificial intelligence data centers, as high-energy-consuming facilities, require significant electricity support for training and operation, primarily relying on renewable energy and natural gas power generation. Nasser projected that by 2030, global data center electricity consumption will reach nearly four times that of global electric vehicle consumption, with the facility's energy structure primarily relying on natural gas, supplemented by renewable energy. Saudi Aramco's capital expenditure will focus on two main areas: increasing natural gas production by over 60% by 2030 to meet demand, and investment in Humain. The company's 2025 capital expenditure target is set in the range of $52 billion to $58 billion. Speaking of the future energy demand outlook, Nasser believes that in the coming decades, with the growth of developing markets, especially in Asia, the demand for oil and gas will continue to rise. He specifically pointed out that global demand growth is expected to reach 110-130 thousand barrels per day by 2025, and will maintain a similar growth rate in 2026. "Emerging economies hold enormous growth potential," Nasser concluded.