The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Minerals & Mining
MP Materials to Build Saudi Rare Earths Refinery with Pentagon, Ma’aden
MP Materials announced it would build a rare earths refinery in Saudi Arabia with the U.S. Department of Defense and state-owned Saudi Arabian mining company Ma’aden to expand Middle Eastern processing of the critical minerals. The news coincided with Saudi Crown Prince Mohammed bin Salman’s visit to Washington, DC for the first time since 2018 as part of a push to underscore economic and security relationships between the countries.
Ma’aden is a member of the Business Council.
Oil & Gas
Aramco Invests $30 Billion in 17 More Deals with U.S. Companies
Aramco has revealed a new batch of multibillion-dollar memoranda of understanding and agreements, encompassing liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services for its offshore and onshore assets with U.S. companies such as SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor. Within the LNG segment, these entail an MoU with MidOcean Energy for a potential investment in the Lake Charles LNG project and another deal for Commonwealth LNG related to a liquefaction project in Louisiana.
Aramco and Fluor Corporation are members of the Business Council.
ICT
AMD, Cisco, and HUMAIN Launch AI Joint Venture, Land First Major Customer
Advanced Micro Devices (AMD), Cisco Systems, and Saudi Arabian artificial intelligence startup HUMAIN are forming a joint venture to build data centers in the Middle East and have landed their first customer, according to CEOs of the three companies. The yet-to-be-named joint venture will kick off with a 100-megawatt data center project in Saudi Arabia — the computing capacity of which Humain has contracted to supply generative video startup Luma AI, according to Humain CEO Tareq Amin.
Luma AI Raises $900 Million in Funding Round Led by Saudi AI Firm HUMAIN
Video generation startup Luma AI said it raised $900 million in a new funding round led by HUMAIN, an artificial intelligence company owned by Saudi Arabia’s Public Investment Fund. The financing, which included participation from AMD’s venture arm and existing investors Andreessen Horowitz, Amplify Partners, and Matrix Partners, was announced at the U.S.-Saudi Investment Forum in November.
At the U.S.- Saudi Investment Forum held in Washington, D.C. in November 2025, HUMAIN, a PIF company delivering full-stack artificial intelligence solutions, announced the signing of a landmark framework agreement with xAI, the U.S.-based frontier AI company founded by Elon Musk. This strategic agreement lays the foundation for a long-term collaboration aimed at designing, building, and operating a new generation of low-cost, hyperscale GPU data centers in Saudi Arabia as well as the deployment of xAI’s Grok models across the country.
At the U.S.- Saudi Investment Forum held in Washington, D.C. in November 2025, HUMAIN announced that it is entering into a strategic partnership with Global AI, an American sovereign AI infrastructure company headquartered in New York. The strategic partnership between HUMAIN and Global AI — an NVIDIA Cloud Partner — seeks to accelerate the expansion of AI infrastructure globally. Together, the companies plan to deliver large-scale AI data center and compute capacity in the United States.
HUMAIN announced at the U.S.- Saudi Investment Forum in November 2025 an expanded strategic partnership with NVIDIA, with plans to deploy up to 600,000 of NVIDIA’s latest AI infrastructure technologies over the next three years, including NVIDIA GB300 platforms. In addition to establishing NVIDIA-powered data centers in Saudi Arabia, HUMAIN is expanding its operations to AI data centers in the United States powered by NVIDIA AI. HUMAIN will also work with NVIDIA Nemotron open models to train its HUMAIN Chat models and advance its physical AI initiatives using NVIDIA Omniverse libraries.
Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company, and HUMAIN announced at the U.S.-Saudi Investment Forum their plans to provide, deploy, and manage up to 150,000 AI accelerators in a data center facility known as an “AI Zone” in Riyadh. As part of the expanded partnership, AWS will become HUMAIN’s preferred AI partner globally, and the two companies will collaborate to bring AI compute and services from Saudi Arabia to customers worldwide. The first-of-a-kind AI Zone in Saudi Arabia will support cutting-edge AI training and inference workloads with access to the latest NVIDIA GB300 AI infrastructure and AWS’s Trainium AI chips.
Adobe, Qualcomm Partner with Humain on Generative AI for Middle East
Adobe and Qualcomm announced at the U.S.-Saudi Investment Forum they are partnering with HUMAIN to help the AI company develop tools for generating content in Arabic and for the broader Middle East. Adobe said it will integrate Allam, a large language model trained in Arabic, into its suite of apps used to create marketing campaigns, films, and television shows. The AI systems will run in data centers being developed by HUMAIN and use chips from Qualcomm, which will handle the work of generating videos created by the models HUMAIN is developing.
Construction & Real Estate
Jacobs Joint Venture to Deliver Design Services for Riyadh’s Landmark The Mukaab
Jacobs, in joint venture with AECOM, has been appointed by New Murabba Development Company to provide design services for the landmark The Mukaab — the iconic centerpiece of Riyadh’s New Murabba development. The project forms part of Saudi Arabia’s Vision 2030 program to create a sustainable, connected, and human-centered urban future.
