In Saudi Aramco’s latest results statement, which was posted on the company’s site this week, Aramco President and CEO Amin H. Nasser said Aramco is “adopting and deploying AI technologies and solutions at scale” across its operations.
Nasser outlined in the statement that this is “unlocking greater efficiencies and value creation throughout” the company.
In a statement posted on Aramco’s site in September, Aramco’s EVP of Technology & Innovation, Ahmad Al-Khowaiter, said “new digital technologies such as generative AI and the Industrial Internet of Things are expected to transform not only how we work, but also our commercial environment”.
“Aramco is pioneering the use of these technologies at an industrial scale to add significant value across our operations. Our history of innovation inspires us to continue harnessing emerging technologies and help realize the Kingdom’s ambitions to become a global AI leader,” he added.
The statement posted on Aramco’s site in September noted that, during the Global AI Summit (GAIN) – which took place in Riyadh, Saudi Arabia, in September 2024 – Aramco signed Memoranda of Understanding (MoU) with Cerebras Systems and FuriosaAI to explore collaboration in the supercomputing and AI domains.
It said another MoU signed with Rebellions focuses on potential deployment of the latter’s Neural Processing Unit chips in Aramco’s data centers, with a view to enhancing digital infrastructure and driving advanced AI innovations, and noted that Aramco signed another MoU with SambaNova Systems to explore ways to accelerate AI capabilities, innovation, and Kingdom-wide adoption.
“Aramco also announced the deployment of an AI supercomputer, one of the first systems of its kind in the region,” Aramco added in that statement.
“Powered by some of the most powerful NVIDIA Graphical Processing Units (GPUs), it is designed to accelerate complex computing tasks like analyzing drilling plans and geological data to recommend low carbon intensity options for well placement,” it continued.
“In addition, Aramco has collaborated with Qualcomm Technologies on initial deployment of industrial generative AI solutions on the edge, which aim to enhance Aramco’s facility monitoring, predictive maintenance, and use of autonomous drones,” the company went on to state.
Aramco said in that statement that “the new initiatives announced during GAIN are part of Aramco’s broader strategy to adopt cutting-edge digital solutions across its business, building on its launch of the Saudi Accelerated Innovation Lab (SAIL) – a national engine to transform cutting-edge ideas into fully functional products – and its Global AI Corridor ecosystem”.
The company noted in the statement that the approach has so far resulted in the creation of Aramco’s first large language model (LLM) serving industrial AI applications.
“It has also launched the Eye on AI Program intended to establish robust AI cybersecurity governance and systems, as well as equip users with necessary cybersecurity skills in a rapidly evolving landscape,” Aramco added.
Aramco states on its site that AI – which it describes as the rapidly-evolving ability of computers, robots and other machines to make decisions, assist with planning, improve communication, and aid creativity – “is already changing the world”. It adds that AI is a key tool in the company’s Digital Transformation program.
Aramco’s latest results statement revealed that the company’s net income came in at $106.2 billion in 2024. This figure stood at $121.3 billion in 2023, the statement highlighted.
Cash flow from operating activities was $135.7 billion in 2024 and $143.4 billion in 2023, according to the statement, which outlined that the company’s free cash flow was $85.3 billion last year and $101.2 billion in 2023.
Aramco said in the statement that it expects total dividends of $85.4 billion to be declared in 2025. It also highlighted in the statement that its board declared a “base dividend of $21.1 billion for the fourth quarter of 2024, a 4.2 percent year on year increase, to be paid in Q1 2025, reflecting Aramco’s focus on delivering a sustainable and progressive dividend”.
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