Gaxos.ai (NASDAQ: GXAI) a developer of artificial intelligence applications across multiple industries, announced the completion of the sale of its gaming assets, including its portfolio of mobile games and Gaxos Gaming Labs, to privately held Game Foundry AI. The all-stock transaction was valued at approximately $1.76 million and is intended to support Gaxos’ strategy of focusing resources on its revenue-generating AI businesses and higher-margin commercial opportunities.
Gaxos said the divestiture streamlines its operations by eliminating non-core assets and allows management to concentrate on business segments with stronger monetization potential. In a related transaction, the company 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.
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