Max Payne (Mark Walhberg) is a detective in the NYPD’s Cold Case Unit, a man tormented by the brutal murder of his wife Michelle (Marianthi Evans) and their infant daughter Rose three years prior. Since that horrific day, Max has been consumed by grief and a singular drive to find the person responsible for his family’s death. His obsession with the case has left him isolated, detached from his colleagues, and operating with little regard for his own well-being
One night, Max is approached by Natasha Sax (Olga Kurylenko), an acquaintance of one of his informants, at a club. Natasha is intrigued by Max but also picks his pocket, stealing his wallet before leaving the club. Hours later, Natasha is found brutally murdered, her body discarded in an alley. The NYPD discovers Max’s wallet at the crime scene, leading them to suspect him of involvement. Lieutenant Jim Bravura (Ludacris) of Internal Affairs is assigned to investigate Max and bring him in for questioning.
The case takes an even darker turn when Max’s former partner, Alex Balder, contacts him with new information about Natasha’s murder and its possible connection to the unsolved murder of Max’s family. Before they can meet, Alex is killed in his home, further implicating Max in a string of violent crimes. With the police now targeting him, Max goes on the run, determined to uncover the truth and clear his name.
Max teams up with Mona Sax (Mila Kunis), Natasha’s sister and a freelance assassin, who is equally determined to avenge her sister’s death. Their investigation leads them to a tattoo parlor where they uncover the meaning of a distinctive tattoo Natasha had on her body. The tattoo represents the wings of a Valkyrie, a creature from Norse mythology said to decide the fate of warriors in battle. This discovery points to something much larger than a simple murder case.
Digging deeper, Max retrieves some of Michelle’s belongings from storage and finds that key documents related to her work at the Aesir Corporation, a powerful pharmaceutical company, have been removed. Suspecting a connection, Max interrogates Jason Colvin, Michelle’s former supervisor at Aesir. Jason reveals that Michelle was involved in the development of Valkyr, an experimental drug created under a military contract. The drug was designed to enhance soldiers’ abilities and create super-soldiers, but the results were disastrous. Most test subjects experienced severe hallucinations, mental instability, and eventual insanity. Only a handful of subjects, like Jack Lupino, a former Marine, showed positive results. The project was shut down, and Aesir worked to bury all evidence of its existence.
Jason agrees to testify against Aesir, but before he can act, SWAT officers disguised as Aesir contractors storm his office. In the chaos, Jason is killed, and Max barely escapes with his life, evading both the SWAT team and Bravura, who arrives at the scene moments later. Despite the loss, Max secures a video from Jason’s office that sheds light on the Valkyr project. The video features Jack Lupino, now a powerful gangster, who describes how Valkyr makes him feel invincible and free of any side effects.
Determined to confront Lupino, Max tracks him to a warehouse hideout where he oversees the trafficking of Valkyr as a designer drug. A violent showdown ensues, but Lupino proves to be an overwhelming opponent. Just as Lupino gains the upper hand and Max’s defeat seems imminent, B.B., Aesir’s head of security and a father figure to Max, arrives and shoots Lupino dead. Max, believing B.B. is there to help him, lets his guard down, only to be knocked unconscious and taken to the city docks.
At the docks, B.B. reveals his true motives. He has been secretly profiting from the illegal sale of Valkyr and was responsible for Michelle’s murder after she uncovered incriminating evidence that could have exposed his operation. B.B. attempts to stage Max’s death as a suicide by drowning him in the icy river, but Max manages to break free and dives into the freezing water. As he begins to succumb to the cold, he hears the voice of his wife urging him to fight. In a desperate bid to survive, Max consumes several vials of Valkyr that B.B. had stuffed into his pockets.
The drug floods Max’s system, causing vivid and horrifying hallucinations. However, it also enhances his strength and endurance, making him nearly invincible. Fueled by a combination of rage, grief, and the effects of the drug, Max follows B.B. back to Aesir Corporation’s headquarters. With Mona’s assistance, Max storms the building, fighting his way through heavily armed security guards.
The confrontation culminates on the rooftop helipad, where Max faces B.B. in a final showdown. Despite B.B.’s attempts to manipulate and overpower him, Max ultimately triumphs, killing the man who destroyed his family. Exhausted and battered, Max collapses to his knees, ready to accept death. As he closes his eyes, he envisions his wife and daughter smiling at him, offering a moment of peace amidst the chaos. The sun breaks through the clouds, and Max awakens to find himself surrounded by a SWAT team.
In the aftermath, Max is cleared of all charges, his name finally exonerated. The truth about Aesir’s illicit activities begins to surface, thanks to the evidence Max uncovered and the testimony of those willing to speak out. Mona, having played a critical role in taking down B.B. and Aesir’s operations, remains at Max’s side as an ally.
In a post-credits scene, Max and Mona meet in a bar. Mona shows Max a newspaper with the face of Nicole Horne, Aesir’s CEO, on the front page. The two exchange a look of understanding, silently agreeing that their fight is far from over. Together, they prepare to take the next steps in their quest for justice.
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