Shares of Gaxos.ai (NASDAQ: GXAI) surged on Friday following the announcement of its plan to introduce an artificial intelligence (AI) solution tailored for game developers and studios.
On Friday, Gaxos.ai (GXAI) revealed its plans to launch an innovative artificial intelligence (AI) solution for game developers and studios through its gaming division, Gaxos Gaming. The cutting-edge solution aims to streamline creative asset development and will feature plug-and-play functionality for Unity. The company has also hinted to extend its support to Unreal Engine soon.
Vadim Mats, the CEO of Gaxos.AI, expressed his enthusiasm, stating,
“With the successful implementation of AI in our games, we are thrilled to bring this groundbreaking AI service to the market.”
He underscored that embracing this technology would enable the game development community to unlock new levels of creativity, efficiency, and player interaction. Mats sees this as a significant stride in their gaming strategy, focusing on delivering value to shareholders.
This development follows the recent transformation of the U.S.-based company, formerly known as NFT Gaming Company, into Gaxos. AI. The company also changed its ticker symbol from “NFTG” to “GXAI” to underscore its commitment to Artificial Intelligence (AI). The shares of common stock started trading on The Nasdaq Stock Market under the new name and ticker symbol “GXAI” in January 2024.
Gaxos.ai (NASDAQ: GXAI) Stock Reaction
GXAI stock shot up 177.18% to close at $0.71 on Friday. The traders had exchanged hands with 107,614,168 (107.61 million) shares compared to the average daily trading volume of 396.18K.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
