XMax Inc. has signed an agreement to acquire Hexa Creation Inc., a small U.S. semiconductor company developing 1200-volt vertical gallium nitride power devices, in a deal that puts XMax into a part of the AI infrastructure stack far removed from the software and furniture businesses it already operates.
The signed Form 8-K filed with the U.S. Securities and Exchange Commission says XMax agreed to pay an aggregate $4,123,711.34 for 100% of Hexa Creation. Professor Yuji Zhao owns 97% of Hexa and Skysong Innovations owns the remaining 3%.
The transaction has not simply been announced as completed. The filing describes a definitive purchase agreement with closing conditions. If the deal closes, Hexa Creation would become a wholly owned XMax subsidiary.
The Technology Is 1200V Vertical GaN
Hexa Creation’s roadmap centers on a native 1200V vertical GaN trench MOSFET. Gallium nitride is already widely discussed in power electronics because it can switch efficiently at high frequency, but much of today’s commercial GaN market remains concentrated at lower voltage classes. Hexa is trying to push that material into higher-voltage power conversion.
That distinction matters. “Vertical GaN” refers to device structures where current flows largely through the thickness of the semiconductor rather than laterally across its surface. The approach is being developed for higher-voltage, higher-current applications where conventional lateral GaN devices face scaling limits.
Onsemi — overview of vertical GaN and why the structure is being developed for higher-voltage power devices.
Why XMax Is Pointing at AI Data Centers
XMax is explicitly connecting Hexa’s 1200V roadmap to emerging high-voltage AI data-center power systems. That is a real industry trend, but it is important to separate the trend from Hexa’s future commercial prospects.
NVIDIA’s 800 VDC architecture is one of the clearest examples. NVIDIA says future AI factories are moving toward higher-voltage DC distribution because megawatt-scale racks make low-voltage distribution increasingly impractical. Higher voltage lowers current for the same power level, which can reduce conductor size, conversion stages and electrical losses.
BitcoinVersus.Tech previously covered UL’s 800 VDC AI data-center certification work, which shows that the shift is moving beyond a concept and into standards, testing and equipment qualification.
We also covered Navitas and Wise Integration’s AI data-center power work, another example of semiconductor companies competing to move more power efficiently through increasingly dense AI systems.
The physical distribution side matters too. Higher-voltage architectures still need safe, scalable ways to move power through the building and into racks, which is why busway and overhead power distribution are becoming more important as rack density rises.
Schneider Electric — 2026 discussion of why high-density AI facilities are moving toward 800VDC power distribution.
Dan Nystedt — industry context on NVIDIA and Foxconn’s 800VDC data-center work.
The Deal Is Small, but the Target Market Is Not
The purchase price is modest by semiconductor-industry standards. XMax agreed to pay Zhao $4 million and Skysong about $123,711. At closing, part of that consideration is due immediately while the remainder is deferred until no later than December 31, 2027, with interest. The agreement also describes a separate change-of-control payment tied to the licensed intellectual property.
That structure is worth noting because the acquisition does not mean XMax has suddenly bought a mature high-volume semiconductor business. The filing and company announcement describe a technology roadmap and a path toward commercialization. They do not establish mass-production volume, qualified AI data-center customers, manufacturing yield, revenue from 1200V devices, or deployment in a live 800VDC facility.
XMax Is Making an Unusual Pivot
XMax was formerly known as Nova LifeStyle and still describes itself as a distributor of contemporary furniture while also building AI software, platform and GPU-service businesses. Buying a high-voltage semiconductor developer is therefore a major diversification move rather than an extension of a long-established chip operation.
That makes execution the main question. Hexa’s technology could be relevant if vertical GaN proves commercially competitive in 1200V-class conversion and if AI facilities continue adopting higher-voltage DC architectures. But the signed purchase agreement by itself does not prove those outcomes.
What to Watch Next
- Whether the acquisition closes under the conditions in the purchase agreement.
- Whether XMax identifies a fabrication or manufacturing path for Hexa’s 1200V devices.
- Device qualification data, switching efficiency, thermal performance and reliability results.
- Whether the company moves from discrete devices into power modules as its announcement suggests.
- Any named AI data-center, power-system or 800VDC customers.
- Whether 1200V vertical GaN wins meaningful share against silicon carbide and other high-voltage power technologies.
Bottom Line
The confirmed news is straightforward: XMax signed a roughly $4.12 million agreement to acquire Hexa Creation and its 1200V vertical-GaN development program. The larger thesis is still a bet. XMax believes emerging 800VDC AI infrastructure will create demand for high-efficiency 1200V-class power semiconductors, but Hexa still has to turn its technology roadmap into qualified commercial products.
Editor’s Note
This article distinguishes terms contained in XMax’s signed SEC filing from management statements about future products, markets and commercialization. Forward-looking claims are not treated as completed deployments or guaranteed commercial results.
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