K Wave Media (NASDAQ: KWM) partners with IGIS to pursue $2B AI infrastructure

Rhea-AI Filing Summary

K Wave Media Ltd. entered into a Strategic Partnership Agreement with IGIS Global Properties LLC, a subsidiary of IGIS Asset Management, a global real assets manager with over $50 billion in assets under management. The partnership is designed to support deployment of up to $2 billion into AI infrastructure opportunities over the next 24 months, focusing on data centers, compute capacity, and related power and cooling assets.

This initiative builds on K Wave Media’s strategic transformation toward an AI infrastructure-focused platform, supported by access to up to $485 million in committed capital from Anson Funds and a planned elimination of approximately $48 million in liabilities through the divestiture of subsidiary Play Co., Ltd. Subject to shareholder approval at an upcoming annual meeting expected in early July 2026, the company intends to rebrand as Talivar Technologies.

Insights

Equity strategy analyst

K Wave formalizes a large-scale AI infrastructure pivot backed by institutional partners.

K Wave Media is partnering with IGIS Global, tied to a platform managing over $50 billion, to target up to $2 billion of AI infrastructure deployment over the next 24 months. The focus is on data centers, GPU/CPU compute, and related power and cooling assets.

The partnership complements K Wave’s access to up to $485 million in committed capital from Anson Funds and a planned reduction of about $48 million in liabilities via the Play Co., Ltd. divestiture. These pieces together frame a shift from legacy operations toward an AI infrastructure investment platform.

The Agreement runs for 36 months and makes key sections contractually binding, while leaving individual investments subject to each party’s internal approvals. Forward-looking statements and references to risk factors in the May 2025 Form 20-F highlight that actual deployment and outcomes will depend on project identification, approvals, and broader market and legal conditions.

Key Figures

Target AI infrastructure deployment: $2 billion IGIS assets under management: $50 billion Committed capital from Anson Funds: $485 million +3 more

6 metrics

Target AI infrastructure deployment $2 billion Planned AI infrastructure investments over the next 24 months

IGIS assets under management $50 billion Global real assets managed by IGIS Asset Management

Committed capital from Anson Funds $485 million Financing agreement providing access to committed capital

Liabilities to be eliminated $48 million Planned reduction via divestiture of Play Co., Ltd.

Partnership term 36 months Duration of the Strategic Partnership Agreement

Rebrand timing Early July 2026 Expected timing of annual meeting for Talivar Technologies rebrand approval

Key Terms

Strategic Partnership Agreement, AI infrastructure, data centers, assets under management, +2 more

6 terms

Strategic Partnership Agreement financial

"The partnership is documented in a Strategic Partnership Agreement between KWM and IGIS Global."

AI infrastructure technical

"The partnership targets AI infrastructure, including data centers and compute resources."

AI infrastructure consists of the hardware, software, and systems needed to develop, run, and support artificial intelligence applications. Think of it as the foundation and tools that enable AI to process large amounts of data quickly and accurately, similar to how a strong foundation supports a building. For investors, AI infrastructure is important because it underpins advancements in technology that can drive new business opportunities and competitive advantages.

data centers technical

"Investments will focus on data centers, GPU compute providers, and power and cooling."

Large facilities that house rows of computer servers, storage devices, and networking equipment that store, process and move digital information for websites, cloud services and companies. Like a warehouse filled with powerful computers instead of boxes, they keep online services running around the clock. Investors care because demand, location, energy use and reliability drive revenue, costs, growth prospects and regulatory or operational risks for businesses that own or lease them.

assets under management financial

"IGIS Asset Management is described as having over $50 billion in assets under management."

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

forward-looking statements regulatory

"The press release includes a detailed cautionary note on forward-looking statements."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Form 6-K regulatory

"The disclosure is furnished to investors via a Report on Form 6-K."

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission file number: 001-42648

K WAVE MEDIA LTD.

c/o Maples Corporate Services Limited

PO Box 309, Ugland House

Grand Cayman, KY1-1104

Cayman Islands

(703) 790-0717

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

K Wave Aligns with $50 Billion Asset Manager IGIS to Accelerate AI Infrastructure Strategy: Targets Over $2 Billion in Deployment

On May 5, 2026, K Wave Media Ltd. (the “Company”) issued a press release announcing the execution of a Strategic Partnership Agreement (the “Strategic Partnership Agreement”) with IGIS Global Properties, LLC, a wholly owned subsidiary of IGIS Asset Management, Co., Ltd.

A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 6-K and is incorporated herein by reference.

A copy of the Strategic Partnership Agreement is attached as Exhibit 99.2 to this Current Report on Form 6-K and is incorporated herein by reference.

Forward Looking Statements

This Form 6-K Report includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in any subsequent filings with the U.S. Securities and Exchange Commission (the “SEC”). Copies of the Company’s filings with the SEC are available on the SEC’s website, www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release dated May 5, 2026
99.2		Strategic Partnership Agreement, dated April 30, 2026, by and between K Wave Media Ltd. and IGIS Global Properties LLC

1

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	K Wave Media Ltd.
Date: May 5, 2026	By:	/s/ Ted Kim
	Name:	Ted Kim
	Title:	Chief Executive Officer

2

Exhibit 99.1

K Wave Aligns with $50 Billion Asset Manager IGIS to Accelerate AI Infrastructure

Strategy: Targets Over $2 Billion in Deployment

NEW YORK, May 5, 2026 — K Wave Ltd. (“KWM” or the “Company”) today announced that it has entered into a Strategic Partnership Agreement with IGIS Global Properties LLC (“IGIS Global”), a U.S.-based subsidiary of IGIS Asset Management Co., Ltd., a global real assets manager with over $50 billion under management.

The partnership is designed to support the deployment of up to $2 billion into AI infrastructure opportunities over the next twenty four months, positioning KWM to scale its recently announced transformation into an AI infrastructure-focused platform.

Positioning for the AI Infrastructure Supercycle

Global demand for AI compute capacity continues to accelerate, driven by the rapid adoption of generative AI, large language models, and enterprise AI applications. At the same time, infrastructure supply, including data centers, GPU capacity, and power availability, remains constrained.

KWM believes this supply-demand imbalance represents one of the most significant investment opportunities in technology infrastructure today. Through its partnership with IGIS Global, the Company intends to rapidly deploy capital into scalable, high-demand infrastructure assets across the AI ecosystem.

Partnership Highlights

● Institutional Sourcing & Execution

IGIS Global will leverage the broader IGIS platform to source and evaluate AI infrastructure and data center opportunities across the United States and internationally, bringing institutional-grade underwriting and global deal flow.

● Operator Partnerships Across the AI Stack

KWM and IGIS Global expect to jointly partner with the “best-in-class” operators across the AI infrastructure value chain, including data center developers, GPU compute providers, and power and cooling infrastructure providers.

● Aligned Co-Investment Framework

IGIS Global is expected to co-invest, or participate as a limited partner in, KWM led SPC or funds in select opportunities, providing aligned institutional capital and reinforcing disciplined capital deployment.

● Scaled Deployment Strategy

The Company’s partnership with IGIS will target up to $2 billion in AI infrastructure deployment over the next 24 months, subject to the identification of projects and standard approvals.

Strategic Momentum and Capital Raising Platform

This partnership builds on KWM’s previously announced strategic transformation, which includes access to up to $485 million in committed capital through its financing agreement with Anson Funds. Supported by the existing commitment and the planned elimination of approximately $48 million in liabilities through its divestiture of KWM’s subsidiary, Play Co., Ltd., KWM’s partnership with IGIS is expected to position KWM as a capital-efficient, public-market platform focused on acquiring and scaling AI infrastructure assets efficiently and globally.

Management Commentary

“This partnership with IGIS Global provides the institutional backbone to execute our AI infrastructure strategy at scale,” said Ted Kim, Chief Executive Officer of K Wave Media.

“IGIS Global brings deep experience in global real assets and data center investments, along with sharing of its existing pipeline data center projects. Most importantly, it provides opportunities to further strengthen KWM’s AI infrastructure strategy through IGIS’ collaboration with global leaders in AI and data center operations. We are building a scalable AI infrastructure platform backed by institutional capital and global sourcing capabilities,” Mr. Kim added. “Our goal is to move quickly and position KWM as a leading public-market vehicle for AI infrastructure investment.”

IGIS Commentary

“We are pleased to partner with K Wave as it builds a scalable platform focused on AI infrastructure,” said Sunho Song, CEO and Managing Member of IGIS Global.

“Demand for high-quality data center and compute infrastructure continues to grow globally, and we believe this partnership combines KWM’s capital markets platform with IGIS’s experience in sourcing, underwriting, and managing real assets. Together, we see a compelling opportunity to deploy capital into infrastructure assets with strong long-term fundamentals.” We have successfully built hyperscale data centers in Korea and would like to replicate our success in the U.S. and international markets in partnership with KWM.

About K Wave Media Ltd.

K Wave Media Ltd. is a Nasdaq-listed company undergoing a strategic transformation toward AI infrastructure investments, including data centers, compute resources, and AI-related technologies. Subject to shareholder approval at the Company’s upcoming annual meeting, expected in early July 2026, KWM intends to rebrand as Talivar Technologies.

About IGIS Global Properties LLC

IGIS Global Properties LLC is a U.S.-based subsidiary of IGIS Asset Management Co., Ltd., a global real assets investment platform with over $50 billion in assets under management and extensive experience in data center and infrastructure investments.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.

2

These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of KWM’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KWM. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political, and legal conditions.

If any of these risks materialize or KWM’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KWM does not presently know, or that KWM currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect KWM’s current expectations, plans, and forecasts of future events and views as of the date hereof.

Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved.

You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of KWM described in KWM’s Form 20-F initially filed with the SEC on May 14, 2025, as amended, including those under “Risk Factors” therein. KWM anticipates that subsequent events and developments will cause its assessments to change. However, while KWM may elect to update these forward-looking statements at some point in the future, KWM specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing KWM’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Media Contact
Investor Relations: info@kwavemedia.com
Public Relations: info@redroosterpr.com

3

Exhibit 99.2

Strategic Partnership Agreement

April 30, 2026

Between:

K Wave Media Ltd (“KWM”)

IGIS Global Properties LLC (“IGIS Global”)

Strategic Partnership Agreement

This Strategic Partnership Agreement (this “Agreement”) is entered into as of 30, April 2026 (the “Effective Date”), by and between:

● K Wave Media, Ltd., a Nasdaq-listed company (“KWM”), and

● IGIS Global Properties, LLC (“IGIS Global”), a wholly owned subsidiary of IGIS Asset Management, Co., Ltd.(“IGIS”) (together with KWM, the “Parties”).

WHEREAS, IGIS Global is a US-based investment and development arm of IGIS Asset Management, a leading South Korea-based real estate and private equity asset manager with over $50 billion in assets under management, including significant investments in data centers and strategic partnership with global data center operators/users;

WHEREAS, IGIS Global, as IGIS’s wholly owned U.S. platform, is focused on expanding its footprint in the U.S., including data centers and AI infrastructure investments globally;

WHEREAS, KWM is undertaking a strategic transformation toward AI and AI infrastructure, including investments in data centers, GPU/CPU compute infrastructure, and related platforms;

WHEREAS, the Parties desire to establish a strategic partnership to collaborate on sourcing, investing in, and developing AI infrastructure opportunities;

NOW, THEREFORE, the Parties agree as follows:

1. Strategic Partnership

The Parties shall collaborate in good faith as follows:

IGIS Global will

● Identify and evaluate investment opportunities in data centers and other AI infrastructure projects in the United States and overseas for a sole purpose of investing with KWM;

● Identify and partner up with the best-in-class operators capable of developing data centers and AI infrastructure projects in the United States and/or overseas;

● Co-develop or co-invest in selected opportunities together with KWM; and

KWM will

● Collaborate with IGIS Global in underwriting such opportunities and establish project-specific joint venture entities (SPVs/SPCs), where appropriate, to execute such investments together with IGIS Global.

● Identify opportunities in acquiring shares of the existing AI infrastructure-focused Operating Companies to further strengthen the JV growth.

2

2. Capital Collaboration Framework

● The Parties intend to align capital deployment strategies in AI infrastructure.

● Subject to internal approvals, market conditions, and deal-specific underwriting:

○ KWM plans to allocate up to $485 million from the already-committed capital by Anson Funds and raise up to $1 billion over the next 24 months through a partnership with IGIS;

○ IGIS Global will seek to participate alongside KWM and may match, co-invest, or become a limited partner in such opportunities on a case-by-case basis, potentially enabling aggregate capital deployment of up to $2 billion.

3. Areas of Cooperation

The Parties will collaborate across the following key areas:

(a) Data Centers

● Development, acquisition, and operation of hyperscale, colocation, and AI-optimized data centers

(b) Compute Infrastructure

● Investment in and operation of GPU/CPU infrastructure, including leasing and compute-as-a-service models

(c) AI Infrastructure Ecosystem

● Investments in critical components of the AI infrastructure value chain, including power, cooling, networking, and enabling technologies

4. Strategic Value Exchange

The Parties acknowledge complementary capabilities and agree to:

● IGIS Global: Provide expertise in

○ Date center development and asset management

○ project structuring and institutional capital raising

○ identifying and obtaining the best operators for various AI infrastructure projects

● KWM: Provide expertise in

○ access to U.S. public capital markets

○ innovative financing structures (including equity-linked strategies)

○ strategic positioning within emerging AI infrastructure markets

The result of the above will, in effect, be the setup of an AI infrastructure platform where each party makes its own contributions and shares the results together.

3

5. Governance & Process

● The Parties may establish a joint working group to review and advance opportunities;

● Each Party retains independent investment discretion;

6. Binding and Non-Binding Nature

Sections 1-4 are binding, although any final commitments are subject to internal approval of both parties. Other sections of this Agreement reflect the Parties’ current intentions only and do not create legally binding obligations to consummate any transaction.

7. Term and Termination

This Agreement shall remain in effect for 36 months, unless earlier terminated by either Party upon written notice.

8. Public Disclosure

The Parties may mutually agree to public announcements, including press releases or regulatory disclosures (including Form 6-K), regarding this strategic relationship.

9. Miscellaneous

● This Agreement does not create a partnership or joint venture except as may be established in definitive agreements.

● Each Party bears its own costs unless otherwise agreed.

4

In WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first written above.

K Wave Media Ltd.

/s/ Ted Kim

Ted Kim

CEO

IGIS Global Properties LLC

/s/ SunHo Song

SunHo Song

President and Chief Operating Officer

5

FAQ

What did K Wave Media (KWM) announce in this Form 6-K?

K Wave Media announced a Strategic Partnership Agreement with IGIS Global Properties LLC. The partnership is designed to pursue up to $2 billion of AI infrastructure investments over 24 months, focusing on data centers, compute capacity, and related infrastructure assets.

How large is the AI infrastructure deployment targeted by KWM and IGIS?

The partnership targets deployment of up to $2 billion into AI infrastructure over the next 24 months. This capital is expected to be invested in data centers, GPU/CPU compute resources, and supporting power and cooling infrastructure across the AI ecosystem.

Who is IGIS Global Properties in K Wave Media’s new partnership?

IGIS Global Properties LLC is a U.S.-based subsidiary of IGIS Asset Management Co., Ltd. IGIS Asset Management is a global real assets investment platform with over $50 billion in assets under management and significant experience in data center and infrastructure investments.

How does this partnership fit K Wave Media’s AI transformation strategy?

The partnership supports K Wave Media’s transformation into an AI infrastructure-focused platform. It builds on access to up to $485 million in committed capital from Anson Funds and a planned elimination of about $48 million in liabilities through divestiture of subsidiary Play Co., Ltd.

Is K Wave Media planning to change its name as part of this shift?

Yes. Subject to shareholder approval at an upcoming annual meeting expected in early July 2026, K Wave Media intends to rebrand as Talivar Technologies. The new name is intended to align with its focus on AI infrastructure investments and related technologies.

How long does the Strategic Partnership Agreement between KWM and IGIS last?

The Strategic Partnership Agreement has a 36-month term unless terminated earlier by written notice. Certain core sections are binding, while any final investment commitments remain subject to internal approvals by both K Wave Media and IGIS Global Properties.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 22.6 KB
• EX-99.2 EXHIBIT 99.2 35.9 KB