Gaxos exits gaming business in $1.76M asset sale
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- Gaxos (NASDAQ:GXAI) sold its gaming assets to Game Foundry AI in a deal valued at about $1.76 million.
- The transaction includes mobile games and Gaxos Gaming Labs, with payment structured as an all-stock deal.
- The company is shifting focus toward higher-margin AI-driven business operations.
Gaxos (NASDAQ:GXAI) completed the sale of its gaming assets, including mobile games and Gaxos Gaming Labs, to privately held Game Foundry AI in an all-stock transaction valued at approximately $1.76 million.
The company said the move is intended to exit its non-core gaming operations and streamline its business structure to focus on artificial intelligence-driven revenue streams.
As part of the agreement, Gaxos also purchased 250,000 shares of Game Foundry AI for $200,000, giving it an equity stake in the acquiring company.
The transaction reflects Gaxos’ broader strategic shift toward higher-margin AI business lines and away from its legacy gaming portfolio.
The deal remains a restructuring step aimed at simplifying operations while maintaining exposure to the buyer through its equity investment.
