South Korea · Microsoft · OpenAI · Taiwan · U.S. · Datacenter Dynamics
K-drama and K-pop focused holding company looks to sell off legacy assets, shift to AI and data centers
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
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A holding firm focused on K-pop and K-drama has ditched plans to invest in Bitcoin and is now pivoting to become an AI and data center firm, partnering with a large Korean asset management firm.
Key facts
- Nasdaq-listed firm K Wave Media (KWM) this month announced that it has entered into a strategic partnership agreement with IGIS Global Properties LLC to support the deployment of up to $2 billion
- IGIS Global is a US-based subsidiary of IGIS Asset Management Co., Ltd., a South Korean asset manager with more than $50 billion under management
- This partnership with IGIS Global provides the institutional backbone to execute our AI infrastructure strategy at scale,” said Ted Kim, K Wave Media CEO
- However, K Wave recently announced plans to instead launch a new AI infrastructure platform, securing $485 million in debt from Anson Funds that was previously set to fund the company’s Bitcoin
Summary
Nasdaq-listed firm K Wave Media (KWM) this month announced that it has entered into a strategic partnership agreement with IGIS Global Properties LLC to support the deployment of up to $2 billion into AI infrastructure opportunities over the next 2 years. IGIS Global is a US-based subsidiary of IGIS Asset Management Co., Ltd., a South Korean asset manager with more than $50 billion under management. Under the agreement, IGIS Global will source and evaluate AI infrastructure and data center opportunities across the United States and internationally, and will co-invest in K Wave-led projects. “This partnership with IGIS Global provides the institutional backbone to execute our AI infrastructure strategy at scale,” said Ted Kim, K Wave Media CEO.