Gaxos.ai Inc. (NASDAQ:GXAI) shares rose 19.35% to $1.48 in after-hours trading on Thursday after expanding its Gaxos Labs platform with AI Music Generation, AI Chat and AI 3D Model Creation tools, aiming to boost user engagement, broaden its generative AI offerings and reinforce its AI growth strategy.
The announcement of the expansion was made after the markets closed on Thursday.
User Engagement Supports AI Strategy
Gaxos said the rollout enhances its platform across image, video, music and text-based AI tools, targeting consumer, creator and commercial users. The company said the rollout has already contributed to an uptick in user engagement across its AI portfolio following the feature expansion.
CEO Vadim Mats said the additions "significantly enhance" the platform's breadth and support growing demand for generative AI tools.
In Feb, Amazon Web Services (NASDAQ:AMZN) committed to supporting Gaxos' early-stage development of its AI-powered sales coaching platform.
In the same month, Gaxos announced a deal with BytePlus, the enterprise arm of ByteDance, securing preferred pricing and early access to AI video generation models to improve its Art-Gen platform.
Small-Cap AI Rally
The moves come amid a broader trend of small-cap companies rallying on AI-related announcements, including pivots toward automation, AI infrastructure and agent-based software models.
Trading Metrics, Technical Analysis
The New Jersey-based technology company reported fourth-quarter revenue of $1.24 million and earnings per share of -$0.13 in March.
With a market capitalization of $12.67 million, Gaxos has a 52-week high of $2.96 and a 52-week low of $1.
The Relative Strength Index (RSI) of GXAI stands at 47.74.
Over the past 12 months, the small-cap company has gained 12.73%.
Currently, GXAI is positioned about 12% of the way from its 52-week low to its high.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $1.24, up 2.48%.
Benzinga's Edge Stock Rankings indicates GXAI stock has a negative price trend across all time frames.
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