Ubisoft has confirmed that Far Cry 3 PC will not support dedicated servers for multiplayer at launch. News of this comes from the official forums, where a user asked what sort of features the multiplayer would support on PC, referring to Far Cry 2's overall lack in this department. Community manager "MSV-Vextor" eventually responded, "The online experience does not support dedicated servers."
In another post, he went on to explain:
"Of course we are not trying to kill the pc community. We have simply decided on a different way of handling multiplayer. We weighed the different options against each other to see what worked best, and what we came up with worked very well even without DS's."
Vextor also noted that the lack of dedicated servers has nothing to do with piracy concerns. According to the community manager, the game's maps will be saved via cloud, and Far Cry 3's Hosting Migration function should transfer hosting to another player if the original host drops.
Multiplayer trailer - YouTube