XMax Announces Up to Approximately US$25 million in AI API-Related Service Contracts and Expansion into GPU-as-a-Service

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.

Rhea-AI Summary

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.

Positive

• Executed AI model API agreements with aggregate value up to approximately US$25 million
• Contracts cover enterprise AI APIs, cloud integration, and value-added AI platform services
• Official entry into GPU-as-a-Service with first commercial GPU service agreement
• Integrated offering spans model APIs, inference, and dedicated high-performance GPU infrastructure
• Management views these agreements as a commercial foundation for expanding the AI business

Negative

• Stated US$25 million contractual value is usage-based and depends on actual service consumption

Argus Jun 29 session

+1.82% close to close Open Argus

Details

News Market Reaction – XMAX

In the Jun 29 session, XMAX gained 1.82%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights AI API contracts of up to US$25 million and expansion into GPUaaS, whil...

Analysis

This announcement highlights AI API contracts of up to US$25 million and expansion into GPUaaS, while a recent PRE 14A outlines sizable potential equity issuance at discounts. Investors may watch how new AI revenue scales relative to any future financing activity.

Key Figures

AI API contracts: up to approximately US$25 million Share issuance authorization: 100,000,000 shares Shares outstanding: 63,602,326 shares +5 more

AI API contracts

up to approximately US$25 million

Aggregate contractual value of AI model API service agreements

Share issuance authorization

100,000,000 shares

Maximum common shares for each of two financing proposals in PRE 14A

Shares outstanding

63,602,326 shares

Common shares outstanding as of May 27, 2026 per PRE 14A

Maximum discount

up to 50%

Potential discount to closing price for proposed offerings in PRE 14A

Short interest

7.19%

Short interest as of 2026-05-29

Market cap

$550,160,120

Pre-news market capitalization

Share price

$8.79

Pre-news trading price

Relative volume

6.27x

Today’s volume vs. 20-day average before this news

Key Terms

gpu-as-a-service, api, private placement, registered direct offering, +2 more

6 terms

gpu-as-a-service technical

"XMax has officially entered the GPU-as-a-Service (GPUaaS) market through the execution"

GPU-as-a-Service is a pay-as-you-go model that lets businesses rent powerful graphics processing units (GPUs) over the internet instead of buying the hardware outright. It matters to investors because it lowers upfront costs and speeds time-to-market for companies using AI, data analysis, or 3D rendering—similar to renting a high-performance car for a specific trip rather than owning one—and can make firms more flexible, scalable, and capital-efficient.

api technical

"executed multiple AI model API service agreements with an aggregate contractual value"

An API, or Application Programming Interface, is a set of rules that allows different software programs to communicate and work together smoothly, much like a waiter translating your order into the kitchen and then bringing your meal back. For investors, APIs are important because they enable real-time access to financial data, trading systems, and other digital services, making it easier to make informed decisions quickly and efficiently.

private placement financial

"approve two related proposals to permit the company to issue up to 100,000,000 shares of common stock in each of (1) a private placement"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

registered direct offering financial

"and (2) a registered direct offering under an effective Form S-3 (Registration No."

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

form s-3 regulatory

"a registered direct offering under an effective Form S-3 (Registration No. 333-295406)"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

minimum price financial

"at prices that may be below Nasdaq’s defined “Minimum Price.”"

The minimum price is the lowest allowable or acceptable price at which a security, share offering, product, or sale can be bought or sold. Think of it like the smallest tag on a store item that the seller will accept; for investors it sets a floor for entry or sale, affects potential returns and liquidity, and can influence demand by limiting purchases below that level.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LOS ANGELES, June 26, 2026 (GLOBE NEWSWIRE) -- XMax Inc. (Nasdaq: XMAX) ("XMax" or the "Company") today announced a significant commercial milestone in its artificial intelligence business, reporting that since launching its AI platform initiative, the Company has executed multiple AI model API service agreements with an aggregate contractual value of up to approximately US$25 million, subject to actual service usage and consumption levels.

The executed agreements cover enterprise AI model API services, cloud infrastructure integration, and value-added AI platform services. The contracts are structured to support enterprise customers seeking scalable AI inference capabilities, secure API connectivity, cloud deployment, technical support, and usage-based commercial models.

The Company believes the execution of these agreements demonstrates increasing commercial adoption of its AI platform and validates its strategy of providing enterprise-grade AI infrastructure and model access solutions.

In parallel with its API business, XMax has officially entered the GPU-as-a-Service (GPUaaS) market through the execution of its first commercial GPU service agreement. The GPUaaS business complements the Company's API platform by providing dedicated high-performance GPU computing resources to enterprise customers with artificial intelligence training, inference, and high-performance computing requirements.

By combining AI API services with GPU infrastructure offerings, XMax is building an integrated AI computing ecosystem capable of supporting customers across multiple layers of AI deployment—from model access and inference APIs to dedicated compute infrastructure.

"Our objective has always been to build an enterprise AI platform capable of serving customers with scalable infrastructure and flexible commercial solutions," said Mr. Lu, CEO of XMax Inc. "The execution of AI API service agreements with an aggregate contractual value of up to approximately $25 million, together with our expansion into GPU-as-a-Service, represents meaningful progress in executing our AI growth strategy. We believe these milestones establish an important commercial foundation for the continued expansion of our AI business."

The Company expects to continue expanding both its AI API platform and GPU infrastructure offerings while pursuing additional enterprise customers, strategic partnerships, and international market opportunities.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements regarding anticipated customer demand, future commercial opportunities, expected growth of the Company's AI business, expansion of GPU services, strategic partnerships, and future financial performance. These statements are based on current expectations, assumptions and analyses made by us in light of our experience and our perception of trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances, and are subject to risks and uncertainties that may cause actual results to differ materially. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory,” “focus,” “work to,” “attempt,” “pursue,” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. XMAX Inc. undertakes no obligation to update any forward-looking statements except as required by law.

About XMax Inc.

Headquartered in Commerce, California, XMax Inc. (NASDAQ: XMAX), formerly known as Nova LifeStyle, Inc., is a diversified company engaged in the design, sourcing, and distribution of contemporary furniture, as well as the development of artificial intelligence technologies and applications. The Company operates through an established global network of suppliers, distributors, and e-commerce channels, serving a broad customer base. In addition, the Company is expanding into artificial intelligence technologies, including AI software and platform-based services through its wholly owned subsidiary XMax AI Inc., to support future growth. By leveraging both its core operations and emerging technologies, the Company aims to drive diversification and long-term value creation.

Investor Relations Contact
ICR LLC.
XMaxIR@icrinc.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What AI API contracts did XMax (Nasdaq:XMAX) announce on June 26, 2026?

XMax announced multiple AI model API service agreements with aggregate contractual value of up to about US$25 million. According to XMax, these contracts span enterprise AI APIs, cloud infrastructure integration, and value-added platform services on a usage-based commercial model.

How much is the AI API contract value reported by XMax (XMAX) and what conditions apply?

XMax reported aggregate AI API contractual value of up to approximately US$25 million. According to XMax, this amount is subject to actual service usage and consumption levels under usage-based agreements with enterprise customers seeking scalable AI inference capabilities.

What does XMax’s expansion into GPU-as-a-Service mean for XMAX investors?

XMax has entered the GPU-as-a-Service market by signing its first commercial GPU service agreement. According to XMax, the GPUaaS business complements its API platform with dedicated high-performance GPU resources for AI training, inference, and high-performance computing workloads.

How is XMax integrating AI API services and GPU infrastructure in its platform strategy?

XMax is combining AI model API services with GPU infrastructure offerings to build an integrated AI computing ecosystem. According to XMax, this supports customers from model access and inference APIs to dedicated compute infrastructure across multiple layers of AI deployment.

What growth plans did XMax outline for its AI and GPU businesses in 2026?

XMax plans to continue expanding its AI API platform and GPU infrastructure offerings. According to XMax, the company aims to pursue additional enterprise customers, strategic partnerships, and international market opportunities to build on its newly announced commercial agreements.

Why does XMax consider the new AI contracts important for XMAX shareholders?

XMax views the AI API contracts and GPU-as-a-Service launch as meaningful progress in its AI growth strategy. According to XMax, these milestones establish an important commercial foundation for continued expansion of its enterprise-focused AI business.