HUMAIN CEO launches hiring drive to gear up for 2029 IPO

HUMAIN’s chief executive used a LinkedIn post over the weekend to signal that the AI startup is assembling a team with strong management-consulting, financial and IPO-strategy expertise. The recruitment drive is part of a broader plan to take the barely two-year-old company public in both Saudi Arabia and New York by 2029, a timeline first disclosed in October. The firm was launched by the Public Investment Fund, which remains the majority shareholder and is pressuring its holdings to reduce dependence on state-backed financing as cash becomes tighter and returns fall.

In Riyadh, companies typically must demonstrate a profit record to list, unless they secure a regulatory waiver. Recent cuts in government spending and the ongoing Iran conflict have led many Saudi enterprises to shelve listing ambitions and seek other ways to draw foreign investment.