Core AI Holdings Emerges from Siyata-Core Gaming Merger to Target $190 Billion AI Gaming and Apps Market
The merger between Siyata Mobile and Core Gaming creates Core AI Holdings, positioning the company to capitalize on the rapidly growing $126 billion mobile AI gaming and $2.6 billion AI app markets through AI-powered experiences.
The strategic 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 and represents a significant pivot from Siyata's previous focus on mission-critical Push-to-Talk over Cellular hardware to high-growth AI sectors.
Core AI Holdings now trades under the ticker CHAI on Nasdaq, marking a complete transformation from its predecessor company that previously operated as SYTA. CEO Aitan Zacharin emphasized the strategic rationale behind the merger, stating the company aims to harness artificial intelligence to build scalable offerings that expand beyond gaming into other verticals. This transition positions the company at the intersection of two rapidly expanding markets with substantial growth potential.
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 grow to $26 billion by the same timeframe. Businesses seeking enhanced efficiencies, automation, productivity, and improved customer service are driving demand for AI-powered applications, while immersive experiences and social engagement fuel growth in mobile AI gaming.
Core Gaming brings established credentials to the merger, having generated $79 million in revenue last year through its portfolio of approximately 2,100 proprietary gaming titles. The company has achieved over 78 million downloads and maintains a global user base exceeding 40 million across 140 countries. This established foundation provides Core AI Holdings with immediate scale and market presence as it executes its AI-focused strategy.
Zacharin expressed confidence in the company's positioning, noting that Core AI Holdings is well-equipped to capture significant market share by delivering AI-powered experiences that create deeper engagement and drive broader adoption. The company's leadership believes they have the foundation, technology, and strategic vision to pursue growth similar to sector leaders who have already demonstrated the potential of AI-driven gaming and applications.
The newly formed company will be governed by a board comprising Zacharin as chairman, along with Marc Seelenfreund, Luisa Ingargiola, Thomas Tarala, and Mordechai Stenge. Seelenfreund, founder and former CEO of Siyata Mobile, will lead Siyata PTT Inc., which becomes a wholly-owned subsidiary of Core AI Holdings focused on the original Push-to-Talk over Cellular business. This governance structure ensures experienced leadership oversight during the company's transition to an AI-focused enterprise.
The merger represents a strategic response to evolving market dynamics, positioning Core AI Holdings at the convergence of artificial intelligence and mobile gaming—two sectors demonstrating robust growth trajectories. With the transaction completed, leadership established, and strategic direction defined, the company is positioned to leverage AI technology across gaming and application development to create shareholder value in markets projected to exceed $190 billion combined by 2030.