K Wave Media has redirected $485 million in funding away from a planned Bitcoin treasury strategy toward AI infrastructure investments. The K-Pop firm's stock plunged following the announcement. The shift comes amid company restructuring and efforts to reduce debt.
K Wave Media, a K-Pop firm, announced it is pivoting $485 million from its Bitcoin treasury plan to AI infrastructure. The decision was detailed in a Form 6-K filing, as the company undergoes restructuring and focuses on debt reduction. The move triggered a sharp decline in the company's stock price, according to reports from Decrypt on May 4, 2026, published just before midnight UTC. (Published date: 2026-05-04T21:15:24, prior to today's date of 2026-05-05. No specific event timing beyond the announcement itself; the pivot is presented as current action in sources. No contradictions between sources. Unrelated crypto price lists in first source discarded as non-article content. Location unspecified, so no lat/long.)
