I read a little bit, but I'm not sure. Did he die, and how? If he didn't die, then is it known what happened to him?
We learn of Gil-Galad's fate during the
exposition scene Council of Elrond. According to Isildur's chronicle of the battle with Sauron, Gil-Galad was burned to death by Sauron's hand.
What evil it saith I do not know; but I trace here a copy of it, lest it fade beyond recall. The Ring misseth, maybe, the heat of Sauron's hand, which was black and yet burned like fire, and so [with which] Gil-galad was destroyed;
The Fellowship of the Ring: The Council of Elrond
And from The Silmarillion we have a third-party account. Sauron was facing two enemies and managed to kill both but was knocked down in the process.
But at the last the siege was so strait that Sauron himself came forth; and he wrestled with Gil-galad and Elendil, and they both were slain, and the sword of Elendil broke under him as he fell. But Sauron also was thrown down, and with the hilt-shard of Narsil Isildur cut the Ruling Ring from the hand of Sauron and took it for his own.
The Silmarillion: OF THE RINGS OF POWER AND THE THIRD AGE
There's a nice concept art image from the recent Peter Jackson film that illustrates what (probably) happened.