Gaxos.ai Inc. (NASDAQ: GXAI), a developer of artificial intelligence applications across multiple industries, has completed the sale of its gaming assets to privately held Game Foundry AI in an all-stock transaction valued at approximately $1.76 million. The divestiture includes Gaxos' portfolio of mobile games and Gaxos Gaming Labs. This strategic move is intended to support Gaxos’ focus on its revenue-generating AI businesses and higher-margin commercial opportunities.
According to the company, the sale streamlines operations by eliminating non-core assets and allows management to concentrate on business segments with stronger monetization potential. In a related transaction, Gaxos acquired 250,000 shares of Game Foundry AI common stock for $200,000, maintaining an investment interest in the gaming-focused company while advancing its broader AI-focused growth strategy.
The announcement underscores Gaxos.ai's commitment to reshaping how people interact with artificial intelligence across everyday life and high-impact industries. The company's portfolio spans defense, health and wellness, entertainment, and productivity, aiming to bring intelligent tools to markets where innovation can drive meaningful real-world outcomes.
For more details on the transaction, the full press release is available at https://nnw.fm/uZ12D. Additional news and updates regarding GXAI can be found in the company’s newsroom at https://nnw.fm/GXAI.
