The completion of the merger between Siyata Mobile Inc. and Core Gaming, Inc. has resulted in the formation of Core AI Holdings Inc., a company now focused on artificial intelligence-driven mobile gaming and AI applications. The all-stock transaction valued Core Gaming at $160 million, with the combined entity trading under the ticker CHAI on Nasdaq, marking a strategic shift from Siyata's previous focus on Push-to-Talk over Cellular hardware.
CEO Aitan Zacharin emphasized the company's positioning within the fast-growing mobile gaming industry, stating their strategy centers on harnessing artificial intelligence to build scalable offerings that extend beyond gaming into other verticals. This transition comes as the global mobile AI gaming market currently stands at $126 billion and is projected to reach $164 billion by 2030, while the global AI app market is valued at approximately $2.6 billion today with forecasts pointing to $26 billion by 2030.
Core Gaming brings substantial existing infrastructure to the merger, having generated $79 million in revenue last year through its portfolio of approximately 2,100 proprietary titles. The company has achieved over 78 million downloads and maintains a global user base exceeding 40 million across 140 countries. This established presence provides Core AI Holdings with a foundation to pursue AI-powered experiences that create deeper engagement and drive broader adoption in the competitive gaming landscape.
The leadership structure for the newly formed company includes Zacharin serving as both CEO and chairman, with Marc Seelenfreund, founder and former CEO of Siyata Mobile, joining the board alongside Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge. Siyata Mobile will continue operations as Siyata PTT Inc., becoming a wholly-owned subsidiary of Core AI Holdings under Seelenfreund's leadership.
Business demand for AI-powered applications continues to grow as organizations seek enhanced efficiencies, automation, productivity improvements, and better customer service capabilities. Simultaneously, the mobile gaming market benefits from increasing consumer interest in immersive experiences and social engagement features. Core AI Holdings aims to leverage these converging trends by developing technology that spans both gaming and application verticals, positioning the company to capture significant market share in these expanding sectors.
