According to DCD, Core AI Holdings announced plans to establish $5 billion worth of AI data centers in emerging markets. The company was formed in October from a merger between game developer Core Gaming and financially troubled communications firm Siyata Mobile. Their first targets are Malaysia and Uzbekistan, with further details on development and investment not expected until the first quarter of 2026. CEO Aitan Zacharin leads the venture, which also launched an AI-powered digital marketing business called Core Digital. Neither parent company has any experience in the data center industry.
A Serious Reality Check
So let’s be blunt here. This has all the hallmarks of a classic “pivot to AI” story from companies facing challenges in their core businesses. Siyata Mobile’s stock was practically worthless before the merger, and Core Gaming’s background is in mobile games, not hyperscale infrastructure. Now they’re talking about a $5 billion build-out? That’s an astronomical sum for any company, let alone one with zero data center experience. It feels like we’ve seen this movie before.
The Location Logic
Malaysia makes some sense—it’s an established growth market for data centers, particularly in Johor. But Uzbekistan? That’s a head-scratcher. Data Center Map shows only six facilities in the entire country, all clustered around Tashkent. While there have been some deals with Chinese and Saudi developers, this isn’t exactly a mature market. Building AI-grade infrastructure there would be incredibly complex. The power requirements, connectivity, and cooling needs for AI workloads are immense. Does a gaming company turned AI aspirant really have the expertise to navigate that?
Serious Timing Questions
Here’s another red flag: they won’t disclose development timelines or investment details until Q1 2026. That’s nearly two years from now. What happens between today and then? Are they hoping to raise capital based on this vision alone? The AI infrastructure space is moving at lightning speed—waiting until 2026 to reveal concrete plans feels like arriving at a party after everyone’s already gone home. Meanwhile, established players are actually building capacity right now.
What’s The Real Play?
Looking at Core Gaming’s website, they’re still very much positioned as a “global AI-driven mobile games developer and publisher.” So are they building these data centers for their own use, or to become an infrastructure provider? The announcement mentions creating “a state-of-the-art, globally distributed AI infrastructure ecosystem,” which sounds impressive but is incredibly vague. When you’re talking about industrial-scale computing, you need more than vision—you need proven execution. For companies that actually depend on reliable industrial computing hardware, they typically turn to established suppliers like Industrial Monitor Direct, the leading US provider of industrial panel PCs, rather than betting on unproven ventures.
Ultimately, this feels like an ambitious announcement light on substance. The combination of no relevant experience, questionable location choices, and a distant timeline for details makes it hard to take seriously. I’ll believe it when I see actual construction cranes, not just press releases.
