Gaxos exits gaming business in $1.76M asset sale
- 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.
More from United States
AbbVie revenue increases 10.3% to $17.4 billion in third quarter
Sensient Q3 revenue rockets 10.6% to $455.8 million
Cameco Q3 adjusted loss reaches CA$2 million as uranium output falls
Kite Realty Q3 loss narrows to $13.3 million as NOI grows
Largo cuts 2026 vanadium production outlook to 9,500–10,500 tonnes
nVent Q3 sales jump 44% as shares fall despite higher revenue
