Core AI Holdings, Inc.

Core AI Holdings, Inc. (NASDAQ: CHAI) previously known as Siyata Mobile Inc., is a global technology enterprise specializing in artificial intelligence–enabled mobile gaming. The Company develops and publishes engaging gaming experiences for users around the world, while also supporting third-party developers in delivering player-centric applications and games. Its broader strategy emphasizes creating scalable, high-impact solutions across a range of industry sectors.

Key Business Updates

• Merger Completion and Strategic Rebranding: Siyata Mobile Inc. announced the successful completion of its merger with Core Gaming, Inc. on October 3, 2025, marking a major milestone in its transformation strategy. Following the merger, the combined entity has been renamed Core AI Holdings, Inc., with its first day of trading on Nasdaq scheduled for October 7, 2025. This transition positions the company to expand beyond its traditional communications hardware business into high-growth digital and AI-driven markets.
• Core Gaming’s Growth Platform and Market Opportunity: Core Gaming, now a wholly owned subsidiary, brings a strong foundation of mobile and cloud-based gaming assets, supported by fiscal year 2024 revenues of $79 million and more than 780 million lifetime downloads. The leadership believes the merger strengthens their ability to scale into AI-enabled gaming and adjacent verticals. With the AI applications market expected to grow at a 38.7% CAGR through 2030, the company sees significant potential to replicate sector successes seen among industry leaders.
• Leadership Realignment and Governance Structure: The newly established Board of Directors is led by Chairman and CEO Aitan Zacharin, whose experience spans multiple high-growth sectors and Nasdaq-listed entities. Alongside him are Marc Seelenfreund, bringing legacy operational expertise; Luisa Ingargiola, offering strong financial and audit oversight; Thomas Tarala, contributing international corporate finance and regulatory experience; and Mordechai Stenge, providing governance and operational leadership. This leadership structure is designed to guide the company’s transformation into an AI-centered holding group.
• Transaction Terms and Share Issuance: As part of the merger agreement, Siyata issued 67,302,300 common shares on a pre-split basis to Core Gaming shareholders. The number of shares was determined using an exchange ratio based on Core Gaming’s $160 million valuation and Siyata’s 10-day VWAP prior to closing. Following this issuance, the company’s total outstanding shares increased to 79,689,523 before the planned reverse split.
• Reverse Stock Split and Nasdaq Compliance: To support compliance with Nasdaq’s initial listing requirements, Core AI Holdings will implement a 1-for-4 reverse stock split effective October 7, 2025. Upon market open that day, the company’s shares will begin trading under the new name Core AI Holdings, Inc., ticker symbol CHAI, and updated CUSIP 83013Q871. The reverse split will reduce the outstanding share count to 19,922,381, with fractional shares rounded up to the nearest whole share, while maintaining the existing authorized share structure.

Technical Observation (on the daily chart):

The stock continues to trend downward, trading well below both its 20-day and 50-day moving averages, reflecting sustained bearish momentum. Recent price action is compressed near yearly lows around the $2.50–$3.00 zone, with failed rallies indicating persistent selling pressure. The RSI remains deeply oversold, suggesting the decline may be stretched, though no clear reversal signals have emerged. Volume spikes have been sporadic, reinforcing weak buyer conviction and a cautious overall technical outlook.

Core AI Holdings, Inc.’s merger-driven transformation presents a mixed rationale: while the combination with Core Gaming introduces strong revenue momentum, a large global user base, and significant AI-driven growth potential, the company also faces execution risks tied to integration, strategic repositioning, and reliance on a reverse stock split to meet Nasdaq requirements. Overall, the new structure offers meaningful long-term opportunity, but near-term volatility and transition-related uncertainties must be considered.

As per the above-mentioned price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis, a ‘Watch’ rating has been given Core AI Holdings, Inc. (NASDAQ: CHAI) at the closing market price of USD 2.72 as of Nov 13,2025. 

Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Related Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc. 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is November 13,2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.