Why Is Gaxos.ai (GXAI) Stock Up 134% Today? – InvestorPlace

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Gaxos.ai (NASDAQ:GXAI) stock is heading higher on Wednesday after the artificial intelligence (AI) app company obtained rights to new AI-enabled technology.

According to a press release from Gaxos.ai, the company has secured the rights to this AI tech from biohacking app Ultiself. The company says it intends to use this technology in the development of its Gaxos Health app.

Gaxos.ai notes that it is working alongside Ultiself to integrate this technology into Gaxos Health as smoothly as possible. It believes this tech will bring enhanced customization and user experience to the product.

Gaxos.ai CEO Vadim Mats said the following about the AI tech rights news.

“By securing the rights to use this tech, we will be able to accelerate the development of our AI-enabled application for the Gaxos Health product offering. This tech is intended to allow us to offer a more customized approach to delivering customers diet, nutrition, and tracking capabilities.”

GXAI Stock Movement Today

With today’s news comes heavy trading of GXAI stock. This has more than 29 million shares changing hands as traders are excited about the AI tech rights news. For the record, the company’s daily average trading volume is about 246,000 shares.

GXAI stock is up 134.1% as of Wednesday morning.

Investors seeking out more of the most recent stock market stories are in luck!

We have all of the hottest stock market news ready to go on Wednesday! Among that is what’s going on with shares of MicroCloud Hologram (NASDAQ:HOLO), SoundHound AI (NASDAQ:SOUN) and Eli Lilly (NYSE:LLY) stock today. You can read up on all of these matters at the links below!

More Stock Market News for Wednesday

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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