Penguin Solutions posts 68% revenue jump as AI memory demand lifts smaller players

The former SMART Global Holdings beat earnings estimates and raised its fiscal 2027 outlook while Micron's own growth runs even hotter The AI memory boom has a famous headliner in Micron. Penguin Solutions is making a case for a spot further down the bill. The company, which trades on Nasdaq under the ticker PENG, reported fiscal fourth-quarter 2026 net sales of $567 million. That figure was up 68% from the same quarter a year earlier, and earnings per share climbed even faster. The numbers behind the quarter Diluted earnings per share landed at $1.00, a 133% increase year over year. The result came in ahead of consensus expectations. The engine was AI. Penguin’s AI-driven businesses accounted for 78% of quarterly revenue, and that slice grew 141% from a year ago. The standout unit was Integrated Memory. Its revenue rose 158% to reach $341 million, which means that segment alone generated well over half the quarter’s sales. The quarter also marked a sharp acceleration. Full-year fiscal 2026 revenue came to $1.73 billion, up 26% year over year, so the fourth quarter’s 68% pace was far ahead of the annual average. On the customer front, Penguin added six new AI infrastructure clients...