K Wave Media, a publicly listed South Korean entertainment company, abandons bitcoin treasury strategy in favor of AI infrastructure
BlockBeats news, on May 6, according to official sources, the South Korean listed entertainment company K Wave Media has submitted an application to the US SEC, deciding to redirect up to $485 million of its originally planned $500 million Bitcoin purchase financing arrangement into AI infrastructure. The funds will be used for data centers, GPU computing, and AI-related acquisitions.
The company CEO stated that the goal is "to become a key player in the fast-growing field of AI infrastructure," and plans to rename the company "Talivar Technologies." However, the market has reacted coolly to this transformation, with the share price closing down 24% on Monday and dropping another 4% in pre-market trading.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hyundai plans to invest $15.5 billion in India by 2032.
Secured an order for 100,000 drone batteries, Enovix (ENVX.US) surged more than 17% after hours.
Enovix surged over 17% in after-hours trading on Tuesday after the company announced it had received an initial order of 100,000 batteries from an unnamed multinational drone system supplier.
Financial Report Soared 322% but Shares Fell Nearly 4%: Technical Death Cross Suppresses APLD (APLD.US)
App’s Q1 revenue reached $300 millions, surpassing expectations. However, due to weakness in tech stocks and a technical death cross, the stock price fell by 3.78%. Analysts maintain a buy rating and are closely watching whether the key support level at $19.5 can hold.
Getty bankruptcy privatization: AI impact collapses a 5 billion empire
Getty Images has filed for bankruptcy due to the impact of AI and a debt crisis, with its stock price plummeting by 99.95%. The family and Koch Equity have injected $533 millions for privatization, aiming to transition toward AI training authorization.
Crypto prices
More
