Penguin Solutions, formerly SMART Global Holdings, generated $567 million in revenue in the fourth quarter of fiscal 2026, up 68% year over year. Diluted earnings per share rose 133% to $1.00, beating analyst expectations, while AI-related businesses accounted for 78% of quarterly revenue and grew 141%. Its Integrated Memory division posted $341 million in revenue, up 158%, and the company added six new AI infrastructure clients, including four neoclouds. For fiscal 2027, management now forecasts approximately $2.43 billion in revenue, representing growth of about 40% at the midpoint, along with non-GAAP diluted EPS of roughly $4.45.
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