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Semafor reported that HUMAIN chief executive Tareq Amin disclosed the expanded ambitions for the global fund in an interview, noting that its scale could grow beyond the $10 billion initially discussed as the company seeks to accelerate investment activity. The executive pointed to the firm’s $3 billion stake in Elon Musk’s xAI from February as a standout success that Amin described as a home run, which has fueled plans for a more ambitious vehicle with offices in the United States, Saudi Arabia, France and the United Kingdom. Saudi Arabia’s Public Investment Fund backs HUMAIN alongside state oil company Aramco and has taken a $26 billion position in SpaceX, according to the Semafor account.
Amin told Semafor that the fund will avoid passive stakes entirely and instead require portfolio companies to commit to Saudi data centers for part of their computing needs or to relocate some staff to the kingdom. “We don’t do passive investments, that will never happen,” he said. The approach builds on HUMAIN’s early moves to integrate its infrastructure with global AI leaders while drawing talent and activity into Saudi Arabia.
The company will separately establish HUMAIN Limitless as a dedicated vehicle to invest in and support AI startups based in Saudi Arabia. This local arm complements the international push and aligns with broader efforts to cultivate a domestic ecosystem around data centers, cloud platforms and Arabic-language models. A Semafor review of HUMAIN’s trajectory noted that the firm has already locked in a 16-gigawatt power commitment from the Saudi Ministry of Energy.
HUMAIN launched under Public Investment Fund sponsorship in May 2025 and has since secured agreements with an array of US technology companies including xAI, Groq, Nvidia and Qualcomm, Amin told Semafor. The firm aims to develop six gigawatts of AI data center capacity inside the kingdom by 2034 as part of a larger plan that includes semiconductor supply deals with the US government. Earlier PitchBook reporting placed these targets within Saudi Arabia’s push to rival other Gulf states in artificial intelligence leadership.
Bloomberg previously reported that Saudi officials had eyed as much as $100 billion to build a technology hub, with $40 billion earmarked for AI initiatives, providing context for HUMAIN’s rapid expansion. The company’s investment activity already includes later-stage venture deals in productivity software and related fields, according to PitchBook data. Amin indicated the global fund would focus on opportunities that advance both financial returns and the kingdom’s strategic AI objectives.
