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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.