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 exclusively 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 symbol CHAI on the Nasdaq exchange, marking a significant strategic shift from Siyata's previous focus on mission-critical Push-to-Talk over Cellular hardware.
This corporate transformation matters because it positions the newly formed entity at the intersection of two rapidly expanding technology sectors. 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 indicating growth to $26 billion by 2030. These substantial market opportunities reflect broader technological trends where businesses increasingly seek AI-powered solutions for efficiency, automation, and customer service enhancement, while consumers demand more immersive gaming experiences with deeper social engagement.
Core AI Holdings CEO Aitan Zacharin emphasized the strategic rationale behind the merger, stating the company aims to harness artificial intelligence to build scalable offerings that extend beyond gaming into other verticals. "As part of the fast-growing mobile gaming industry, we are advancing our next-generation gaming technology and believe that we are well-positioned for growth," Zacharin said. "Our strategy going forward centers around harnessing the power of artificial intelligence to build scalable offerings that expand our reach beyond gaming and into other verticals to create meaningful value for our shareholders."
The company enters this competitive landscape with established market presence and technological foundation. Core Gaming brought to the merger a diverse portfolio of approximately 2,100 proprietary titles, over 78 million downloads, and a global user base exceeding 40 million people across 140 countries. Last year, the gaming division generated $79 million in revenue, providing financial stability as the company pursues its AI-focused strategy. This existing infrastructure positions Core AI Holdings to potentially capture significant market share in the evolving AI gaming and application sectors.
The leadership structure reflects the merged entity's strategic direction, with Zacharin serving as both CEO and chairman. The board includes Marc Seelenfreund, founder and former CEO of Siyata Mobile, who will lead Siyata PTT Inc., the renamed hardware subsidiary that becomes wholly-owned by Core AI Holdings. Additional board members Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge will oversee the company's transition to an AI-focused gaming and application enterprise. This organizational structure supports the company's ambition to leverage artificial intelligence for creating deeper user engagement and driving broader adoption of its products across multiple market segments.
The merger represents a significant corporate realignment in response to evolving technology markets, with implications for investors, industry competitors, and consumers of mobile entertainment and AI applications. As artificial intelligence continues to transform digital experiences, companies like Core AI Holdings that strategically position themselves at the convergence of AI and high-growth sectors like mobile gaming could potentially shape the future development of interactive entertainment and productivity applications. The company's established user base and existing revenue streams provide a foundation for pursuing growth in these expanding markets while navigating the competitive challenges of rapidly evolving technology landscapes.
