Gaxos.ai Inc. (NASDAQ: GXAI), a developer of artificial intelligence applications, announced the completion of the sale of its gaming assets, including its mobile game portfolio and Gaxos Gaming Labs, to privately held Game Foundry AI. The all-stock transaction, valued at approximately $1.76 million, aligns with Gaxos’ strategy to focus resources on its revenue-generating AI 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 building a portfolio of AI-powered solutions across defense, health and wellness, entertainment, and productivity. The company aims to make advanced technology more practical and transformative in these high-impact industries. The sale of gaming assets is a strategic move to sharpen focus on AI applications that can drive meaningful real-world outcomes.
For more details, view the full press release at https://nnw.fm/uZ12D. Additional updates on GXAI are available in the company’s newsroom at https://nnw.fm/GXAI.
