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K Wave Media, a South Korean media and entertainment firm listed on Nasdaq, has redirected $485 million from its Bitcoin treasury plan to invest in artificial intelligence infrastructure. The funds, initially part of a $500 million financing deal with Anson Funds, will now support data centers, GPU computing, and acquisitions. This strategic pivot comes as K Wave prepares to rebrand as Talivar Technologies, subject to shareholder approval in July. Following the announcement, K Wave's stock dropped 24% on Monday and declined an additional 4% in pre-market trading on Tuesday.

BTC+0.48%

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