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K Wave abandons the Bitcoin vault project and will reallocate $485 million to AI infrastructure
ME News Report, May 6 (UTC+8), the South Korean media and entertainment company K Wave Media (KWM, soon to be renamed Talivar Technologies), listed on NASDAQ, has redirected the $485 million originally intended for a Bitcoin treasury into artificial intelligence infrastructure (such as data centers, GPU computing, and acquisitions). K Wave and Anson Funds reached an initial $500 million financing arrangement established in June 2025, specifically for purchasing Bitcoin. K Wave’s stock price closed down 24% on Monday and dropped 4% in pre-market trading on Tuesday. The company also plans to rename itself Talivar Technologies, pending approval at the annual shareholders’ meeting in early July. (Source: Foresight News)