Aramco CEO Amin Nasser announced the company is deploying AI at scale to enhance efficiency and value. EVP Ahmad Al-Khowaiter added that technologies like generative AI and the Industrial Internet of Things will transform operations and the commercial landscape.Aramco is advancing AI at an industrial scale to enhance operations and support Saudi Arabia’s global AI ambitions. At the 2024 Global AI Summit in Riyadh, it signed MoUs with Cerebras Systems and FuriosaAI to explore supercomputing and AI collaboration.Aramco signed an MoU with Rebellions to explore using its Neural Processing Unit chips in data centers and another with SambaNova Systems to boost AI innovation and adoption.Aramco also announced deploying an AI supercomputer, among the first in the region, powered by NVIDIA GPUs to enhance drilling analysis and optimize low-carbon well placement.Aramco partnered with Qualcomm to deploy industrial generative AI for facility monitoring, predictive maintenance, and autonomous drones.
These initiatives align with Aramco’s digital strategy, building on SAIL and the Global AI Corridor. The approach has led to Aramco’s first large language model for industrial AI applications.
Aramco launched the Eye on AI Program for AI cybersecurity and training.
AI is central to its Digital Transformation.
Aramco’s 2024 net income was $106.2 billion, down from $121.3 billion in 2023.
Aramco reported $135.7 billion in operating cash flow for 2024, down from $143.4 billion in 2023.
Free cash flow dropped to $85.3 billion from $101.2 billion.The company expects to declare $85.4 billion in total dividends for 2025. Its board approved a $21.1 billion base dividend for Q4 2024, a 4.2% increase year-over-year, to be paid in Q1 2025, reinforcing its commitment to sustainable dividends.
