GAXOS.AI INC. entered into an inducement offer letter agreement on August 14, 2026, with holders of existing warrants issued in September and December 2024. Holders agreed to exercise these warrants for cash at a reduced price of $1.20 per share, resulting in the issuance of 3,007,654 shares and approximately $3.6 million in gross proceeds. In exchange, the Company issued new unregistered warrants to purchase up to 6,015,308 shares at an exercise price of $0.95 per share, with a three-year term. The transaction is expected to close on August 17, 2026, with net proceeds allocated for general corporate and working capital purposes. GAXOS.AI INC. develops artificial intelligence applications across consumer and enterprise markets.

GAXOS.AI INC. reported financial results for the quarter ended June 30, 2026, announcing record consolidated revenue of $2.46 million, a 35.8% increase from Q1 2026 and a 1,337% year-over-year rise. The company achieved GAAP net income of $241,056, or $0.02 per share, driven largely by a gain from the sale of gaming assets to Game Foundry AI for approximately $1.76 million in stock. Advertising and marketing expenses totaled $3.14 million, with revenue generated per advertising dollar improving 20% to $0.78. Cash and short-term investments stood at $11.44 million as of June 30, 2026. The company operates in the artificial intelligence sector, developing AI applications for consumer and enterprise markets.

On June 18, 2026, Gaxos.ai Inc. consummated an Asset Purchase Agreement to sell substantially all of its gaming assets, including its mobile game portfolio and Gaxos Gaming Lab, to Game Foundry AI. In exchange, the company received 2,200,000 shares of Game Foundry AI common stock, with an aggregate estimated value of $1,760,000. The company operates in the artificial intelligence sector, providing AI-driven technology and gaming services.