SK hynix acquired 200,000 convertible preferred shares of Penguin Solutions for $377.16 million in a transaction that closed on October 29. The South Korean memory maker now holds a 9.1% beneficial ownership stake in the AI data center infrastructure company. The shares were transferred from Astra AI Infra, a subsidiary of SK Telecom, to SHIFTIX1, a wholly owned subsidiary of SK hynix, keeping the investment within the SK Group. Valued at nearly twice the amount invested by SK Telecom in December 2024, the stake includes governance rights such as board nomination privileges and consent rights. Penguin Solutions forecasts fiscal 2026 revenue between $1.5 billion and $1.73 billion.
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