K Wave Media shares drop 27% after shifting $485M from Bitcoin to AI infrastructure investments

K Wave Media Ltd. saw its shares fall 27% following its announcement to abandon Bitcoin treasury plans and redirect $485 million toward artificial intelligence infrastructure, including GPU computing and data centers. The company also plans to divest a subsidiary and reduce nearly $50 million in debt as part of a broader corporate restructuring. This strategic pivot reflects management's response to evolving technology trends, signaling a focus on AI infrastructure over cryptocurrency holdings. Shareholders will vote on a proposed rebranding to Talivar Technologies in July 2026.