Gaxos.ai Inc. (NASDAQ: GXAI) has completed the sale of its gaming assets, including its mobile game portfolio and Gaxos Gaming Labs, to privately held Game Foundry AI in an all-stock transaction valued at approximately $1.76 million. The move is part of a strategic shift to focus resources on its revenue-generating artificial intelligence businesses and higher-margin commercial opportunities.
The divestiture streamlines Gaxos’ operations by eliminating non-core assets, allowing 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.
Gaxos.ai is a developer of AI applications across multiple industries, including defense, health and wellness, entertainment, and productivity. The company’s portfolio is designed to make advanced technology practical and accessible, with a focus on markets where innovation can drive meaningful outcomes.
The full press release is available at https://nnw.fm/uZ12D. For more information about Gaxos.ai, visit their newsroom at https://nnw.fm/GXAI.
