Shares of Gaxos.ai Inc. (GXAI) are surging about 84 percent on Thursday morning trading following America First Defense secured a license for the Detachable Drone Highjacker from US Navy. Gaxos owns about 19 percent stake in the defense technology company.
The company's shares are currently trading at $2.29 on the Nasdaq, up 84.74 percent. The stock opened at $1.24 and has climbed as high as $2.39 so far in today's session. Over the past year, it has traded in a range of $1.00 to $2.96.
Gaxos believes that this transaction would place it at the intersection of AI, defense innovation, and a rapidly accelerating national security priority.
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