Core AI Holdings Inc. (NASDAQ:CHAI) on Thursday launched HomeGPT, an AI-powered home design and renovation app that allows users to generate and modify home designs from a single photo.
Financing Announcement Weighs On Stock
The launch comes a day after Core AI announced a $5.4 million registered direct offering. Investors reacted negatively to the dilutive share sale, sending the stock lower after a sharp rally in the previous session.
The financing involves the sale of 1.97 million common shares and 3.98 million pre-funded warrants to an institutional investor, with proceeds earmarked for AI technology development, infrastructure initiatives and working capital.
Core AI said HomeGPT’s active user base grew from about 2,000 to more than 130,000 during a three-month beta period across North America, Japan and South Korea. Users completed more than 380,000 AI design tasks, while paid conversion rose about 210% from earlier product versions.
Features And Monetization Strategy
The app offers interior and exterior design, garden planning, smart layouts, object editing, floor-plan-to-3D generation and conversational AI design tools.
The company said the platform runs on proprietary multimodal AI infrastructure and uses a subscription-plus-credit monetization model. The app is now available through Apple’s App Store and Google’s Play Store.
Core AI is an AI technology and infrastructure company. Through its subsidiary, Core Gaming, the company develops and publishes mobile games using artificial intelligence tools.
Core Gaming has recorded more than 800 million downloads and serves more than 40 million users across over 140 countries, according to the company.
Core AI Price Action
CHAI Price Action: Core AI Holdings shares were down 4.74% at $1.30 at the time of publication on Thursday, according to Benzinga Pro data.
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