Penguin Solutions, Inc.

Penguin Solutions, Inc. (Nasdaq: PENG) is an end-to-end technology company that designs, builds, deploys and manages high-performance, high-availability enterprise solutions for customers seeking to accelerate innovation across computing, memory and LED applications. The company operates through three primary business segments: Advanced Computing, Integrated Memory, and Optimized LED.

The Advanced Computing segment generates approximately 58% of revenue and offers high-performance computing platforms and services spanning core, edge and cloud environments under the Penguin Solutions, Penguin Computing, Stratus and Penguin Edge brands. This segment serves customers in education, energy, financial services, healthcare, government, hyperscale and manufacturing markets with AI infrastructure solutions, fault-tolerant computing platforms and related services. The Integrated Memory segment represents roughly 33% of revenue and provides specialty memory and storage solutions through the SMART Modular Technologies brand, along with customized supply chain services for OEM customers in industrial, government, networking and enterprise markets. The Optimized LED segment comprises approximately 9% of revenue and offers application-optimized LED chips and components under the Cree LED brand for lighting, video displays and specialty applications.

Penguin Solutions employs approximately 2,900 people globally, with significant operations in the United States, China and Malaysia. The company maintains manufacturing and testing facilities in Newark and Fremont, California; Penang, Malaysia; Huizhou, China; and Tempe, Arizona. The company generates revenue from a diversified customer base across multiple industries, though it depends on a select number of large customers for a significant portion of sales.

The company has a rich operational history spanning over two decades in high-performance computing and more than thirty years in specialty memory solutions. In 2022, Penguin Solutions acquired Stratus Technologies, a leader in fault-tolerant computing. In 2021, the company acquired Cree LED, establishing its Optimized LED segment. In 2023, the company divested an 81% stake in SMART Brazil. In June 2025, Penguin Solutions completed its redomiciliation from the Cayman Islands to Delaware, becoming a U.S.-domiciled public company. The company's competitive advantages include close customer collaboration, customized solutions, long-lifecycle product offerings and proprietary supply chain services.