The strategic merger between Siyata Mobile Inc. and Core Gaming, Inc. has culminated in the formation of Core AI Holdings Inc., a new entity focused exclusively on artificial intelligence-driven mobile gaming and AI applications. This all-stock transaction, valued at $160 million for Core Gaming, represents a significant pivot from Siyata's previous focus on mission-critical Push-to-Talk over Cellular hardware to the high-growth sectors of AI mobile gaming and AI-powered applications.
Core AI Holdings now trades under the ticker symbol CHAI, marking a complete rebranding from Siyata Mobile's previous Nasdaq listing as SYTA. CEO Aitan Zacharin emphasized the strategic rationale behind this transformation, stating the company aims to harness artificial intelligence to build scalable offerings that extend beyond gaming into additional verticals. This approach is designed to create substantial value for shareholders while positioning the company at the forefront of technological innovation in mobile entertainment and productivity applications.
The market opportunity driving this strategic shift is substantial. The global mobile AI gaming market currently stands at $126 billion and is projected to reach $164 billion by 2030, according to industry projections available at https://www.benzinga.com. Simultaneously, the global AI app market, valued at approximately $2.6 billion today, is forecasted to expand to $26 billion by the same timeframe. These growth trajectories are fueled by increasing demand for immersive gaming experiences and social engagement in the gaming sector, while businesses across industries seek AI-powered applications to enhance efficiency, automation, productivity, and customer service capabilities.
Core Gaming brings established credentials to this new venture, having previously established itself as a leading developer and publisher of immersive mobile and cloud-based gaming solutions. The company generated $79 million in revenue last year through its diverse portfolio of approximately 2,100 proprietary titles. With over 78 million downloads and a global user base exceeding 40 million across 140 countries, the foundation exists for significant market penetration in the AI-enhanced gaming space. The company's leadership believes this established user base and content library provide a competitive advantage in delivering AI-powered experiences that drive deeper engagement and broader adoption.
The newly formed board of directors will oversee the company's transition to an AI-focused gaming and applications enterprise. Leadership includes Zacharin as CEO and chairman, joined by Marc Seelenfreund, founder and former CEO of Siyata Mobile, along with directors Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge. Siyata Mobile will continue operations as Siyata PTT Inc., functioning as a wholly-owned subsidiary of Core AI Holdings under Seelenfreund's leadership. This organizational structure ensures continuity in existing business operations while pursuing aggressive growth in AI-driven markets.
The merger positions Core AI Holdings at the intersection of two rapidly expanding technological domains: artificial intelligence and mobile gaming. With the transaction completed, leadership established, and strategic vision being implemented, the company is positioned to capitalize on the convergence of these markets. The combination of Core Gaming's established mobile gaming platform with AI integration capabilities creates potential for innovative products that could reshape user experiences in mobile entertainment and productivity applications, representing a significant development in the evolution of both the gaming and artificial intelligence industries.
