K Wave Media, a Nasdaq-listed Bitcoin treasury firm, plans to raise up to $485 million to transition into AI infrastructure. The company aims to invest in data centers, lease GPU computing power, and pursue acquisitions and partnerships to enhance its AI capabilities. Additionally, K Wave Media has approved the sale of its subsidiary, Play Co., Ltd., back to its original shareholders, a move expected to cut $48 million in debt, subject to shareholder approval at the 2026 annual meeting.
K Wave Media to Raise $485 Million for AI Infrastructure Expansion
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