XMax (XMAX) entered into a five-year AI infrastructure services agreement with Singapore-based DSH HYPER for computing capacity in Korea. The infrastructure is provided by kt cloud, with XMax AI as the designated operating end user. Service began on October 29, 2026 with 480 GPUs; the full target of 512 NVIDIA Blackwell Ultra B300 GPUs is expected in phases.
XMax expects the project-supported businesses to generate more than US$100 million in cumulative revenue over the next five years, based on planned deployment and anticipated commercialization. It plans to use the capacity to develop and launch NeoCloud and AI Token Factory services. Commercialization depends on technical validation and applicable contractual, technical and regulatory requirements. The service commitment also requires board approval and delivery of a security guarantee and standby letter of credit in favor of kt cloud by November 17, 2026.
XMax (NASDAQ: XMAX) has signed a definitive share purchase agreement to acquire 100% of Hexa Creation, a high-voltage power semiconductor developer.
Hexa Creation focuses on 1200V vertical gallium nitride (GaN) technology for AI data center power infrastructure and other high-voltage applications. It holds an exclusive license to certain patents and related intellectual property owned by a large U.S. public university. XMax says the acquisition extends its AI strategy into power infrastructure and supports business diversification.
Hexa Creation is targeting AI power infrastructure, electric vehicles, energy storage and ultra-fast charging. XMax believes the technology roadmap may eventually consider power modules and broader power-system solutions. Material agreement terms will be disclosed in a Form 8-K filed October 9, 2026.
XMax (XMAX) announced that subsidiary XMax AI signed a non-binding Letter of Cooperation with Seoul-based apM Group to explore industry-specific AI applications for K-fashion and global apparel markets.
The parties aim to combine XMax AI’s infrastructure and model deployment capabilities with apM Group’s fashion expertise, datasets and wholesale ecosystem to investigate large language and multimodal AI models for design, merchandising, styling, retail, supply-chain management and marketing. They also intend to explore forming a Korea-based AI joint venture focused on infrastructure operations, model development, commercialization and deployment of AI applications. Detailed terms on infrastructure, data governance, commercialization and joint-venture governance are expected to be set out in future definitive agreements.
XMax (NASDAQ:XMAX) reported second quarter 2026 net income of $32.4 million, compared with a net loss of $0.3 million in Q2 2025, mainly due to a $42.1 million unrealized gain on its investment in Preamble Capital. Net sales were $2.7 million, up 7% from $2.6 million a year earlier.
Gross profit was $1.1 million with a 40% margin, versus $1.3 million and a 50% margin in Q2 2025, reflecting the initial cost mix of new AI-based services. Cash and equivalents rose to $34.6 million and working capital to $45.3 million as of June 30, 2026, from $6.7 million and $9.4 million at December 31, 2025. XMax launched its API platform, generated first AI-related revenue, and noted furniture sales declined due to market conditions and tariffs.
XMax (NASDAQ:XMAX) announced its inclusion in the Russell 3000 Index following the 2026 annual reconstitution. Membership became effective after market close on June 26, 2026.
The company, which operates in AI infrastructure and furniture distribution, views the addition as supporting its strategic transformation and visibility among investors.
XMax (Nasdaq:XMAX) reported a commercial milestone in its AI business, executing multiple AI model API service agreements with aggregate contractual value of up to approximately US$25 million, subject to actual usage. The company also entered the GPU-as-a-Service market with its first commercial GPU service agreement, aiming to build an integrated enterprise AI computing ecosystem and expand its customer and partnership base.