Penguin Solutions Inc

PENG

Market cap $1.09B

FREMONT, Calif.--(BUSINESS WIRE)---- $PENG #CEO--Penguin Solutions today announced the grant of inducement equity awards to its new President and CEO Kash Shaikh with his employment on Feb 2, 2026.

DURHAM, N.C.--(BUSINESS WIRE)---- $PENG #CreeLED--Cree LED today announced OptiLamp™ LEDs, a new display technology that integrates driver and control intelligence directly into every LED pixel.

FREMONT, Calif.--(BUSINESS WIRE)--Penguin Solutions, Inc. (“Penguin Solutions” or the “Company”) (NASDAQ: PENG), a leading provider of high-performance computing and AI infrastructure solutions, today announced the retirement of Mark Adams as President and Chief Executive Officer and as a Director of the Company. After a thorough search process, the Board has appointed technology veteran Kash Shaikh as President and Chief Executive Officer and as a Director of the Company, effective February 2,.

DURHAM, N.C.--(BUSINESS WIRE)---- $PENG #BlizzardLighting--Cree LED and Blizzard Lighting today announced a mutually beneficial settlement resolving a patent infringement dispute involving Cree LED's patents.

Penguin Solution is reiterated as a buy, driven by robust core AI infrastructure growth and expanding sovereign AI opportunities. PENG's Q1 headline numbers understate performance; core Advanced Computing grew 52% y/y, and Integrated Memory revenue surged 41% y/y. Sovereign AI projects across multiple regions provide durable, non-discretionary growth, complementing enterprise and memory-driven momentum.

FREMONT, Calif.--(BUSINESS WIRE)---- $PENG #AI--Penguin Solutions today announced that its SMART Modular CXL NV-CMM E3.S 2T non-volatile memory module has successfully passed CXL compliance testing.

DURHAM, N.C.--(BUSINESS WIRE)---- $PENG #CreeLED--Cree LED today announced its new Level 2 (L2) Solutions portfolio, offering both standard and custom fully-populated LED PC board assemblies (PCBAs).

Penguin Solutions NASDAQ: PENG could be the deep value AI play you've been looking for. It's currently trading at pennies on the dollar relative to long-term forecasts—forecasts that may be overly cautious.

Penguin Solutions (PENG) is pivoting to AI infrastructure, driving modest revenue growth and maintaining strong gross margins despite market volatility. PENG's Q1 revenue rose 2% sequentially to $343M, with Advanced Computing up 9%, but hyperscale hardware sales were absent. Non-GAAP operating income grew 1% year-over-year to $42M, aided by disciplined cost controls and reduced operating expenses.

Penguin Solutions, Inc. (PENG) Q1 2026 Earnings Call Transcript