K Wave Media, a Nasdaq-listed company, says it is abandoning a prior plan to build a Bitcoin treasury and is instead redirecting up to $485 million toward AI-related infrastructure. The company’s decision is reported in connection with a Form 6-K filing. CoinDesk reports that K Wave Media previously raised $500 million with the intention of investing in Bitcoin, but shifts course less than a year later to pursue investment opportunities in artificial intelligence. In the new plan, the company directs the redirected funds to AI infrastructure, while also citing additional corporate actions that include debt reduction and restructuring. The sources characterize the move as a change in capital allocation rather than a commentary on Bitcoin’s performance, focusing instead on a change in strategy toward the AI sector. Overall, both outlets describe the same outcome: K Wave Media is scrapping its large-scale Bitcoin treasury approach and reallocating a substantial portion of that planned investment into AI infrastructure, alongside steps intended to address its balance sheet.