Penguin Solutions
Fremont, California, United States · Artificial Intelligence, Consulting, Information Technology
The Penguin Solutions™ portfolio, which includes Penguin Computing™ and Penguin Edge™, accelerates customers’ digital transformation with the power of emerging technologies in HPC, AI, and IoT with solutions and services that span the continuum of edge, core, and cloud. By designing highly-advanced infrastructure, machines, and networked systems we enable the world’s most innovative enterprises an
Key facts
- Headquarters
- Fremont, California, United States
- Employees
- Unknown
- Industries
- Artificial Intelligence, Consulting, Information Technology
- Status
- Public (PENG)
- Website
- www.penguinsolutions.com
- Company page
Recent activity at Penguin Solutions
- : SEC 8-K (5.02): On November 4, 2026, it was announced that Joseph Clark, President of Optimized LED, will cease to serve as an executive officer of Penguin Solutions, Inc., effective upon the closing of the Transaction involving the sale of the company's Cree LED business. This departure is tied to the Equity Purchase Agreement entered into on November 3, 2026, between the Company and Transom Crystal AcquireCo, LLC, where the Company will sell its Optimized LED segment. Mr. Clark is expected to continue his employment with the acquired business after the transaction closes in early 2027. The Transaction includes customary closing conditions and rights, and marks a strategic shift for the Company as it divests part of its operations.
- : Penguin Solutions Appoints Stephen Cumming as Chief Financial Officer
- : SEC 8-K (5.02): On October 6, 2026, the Company appointed Stephen Cumming as the Senior Vice President and Chief Financial Officer (CFO), effective immediately, succeeding Aaron Johnson who served as the interim CFO since July 9, 2026. Mr. Cumming will also act as the principal financial officer and principal accounting officer. His employment offer includes an annual base salary of $550,000, eligibility for a performance bonus targeted at 90% of his base salary, and a retention bonus of $700,000 payable in two installments. The offer also provides for equity awards valued at $1,750,000 in time-based restricted stock units (RSUs) and performance-based RSUs, to incentivize his continued service with the Company.
- : SEC 8-K (2.02): On October 6, 2026, Penguin Solutions, Inc. announced its financial results for the fourth quarter and full year fiscal 2026. The announcement included a press release detailing the company's performance, which references non-GAAP financial metrics. A reconciliation of the non-GAAP measures to GAAP figures is provided in the attached press release. This event is significant as it conveys the company's operational health and financial condition, impacting investor perception and market valuation.
- : SEC 8-K (1.01): On July 17, 2026, Penguin Solutions, Inc. entered into a material definitive agreement related to the issuance of $750 million in 0.00% Convertible Senior Notes due 2031. The notes were issued under an indenture with U.S. Bank Trust Company, National Association as the trustee. The company granted an option to initial purchasers for an additional $100 million in notes, with net proceeds estimated at $735.1 million, a portion of which will be used to repurchase existing convertible notes due 2029 and 2030, cover costs associated with capped call transactions, and repay outstanding amounts under a credit agreement. The maturity date for the notes is set for August 1, 2031, with conversion options available under specific conditions. This agreement is significant as it consolidates existing debt and provides funding for general corporate purposes.
- : Penguin Solutions announces a $650 million private offering of convertible notes due 2031 to enhance its capital structure.
- : Penguin Solutions Appoints Aaron Johnson as Interim Chief Financial Officer
- : SEC 8-K (5.02):
- : SEC 8-K (5.02): On May 18, 2026, Penguin Solutions, Inc. appointed David Heard to its Board of Directors, increasing the Board's size to eight members. Mr. Heard will serve as a Class I director with an initial term expiring at the 2029 annual meeting. He has a significant background in the telecommunications industry, having served in key roles at Nokia and Infinera Corporation. In connection with his appointment, he will receive 4,485 restricted stock units with specific vesting terms and will enter into an indemnification agreement with the Company, qualifying as an independent director under Nasdaq’s requirements.
- : Penguin Solutions Partners with AMD and Shell to Enhance AI Data Center Performance
Penguin Solutions funding history
| Date | Round | Amount |
|---|---|---|
| Jul 2026 | Convertible Note | $650.0M |
| Dec 2024 | Convertible Note | $200.0M |
Leadership
- Stephen Cumming, Chief Financial Officer
- Min Yong Ha, Member of the Boards
- Aaron Johnson, Chief Financial Officer
- Jessica Pope, Hr Operational Excellence Specialist
- Vinay Kn, Senior Software Test Engineer
- Keith Baylor, Tech Iv
- Kelley Lipscomb, Site Manager
- Mark Zawadzki, Sr. Support/Reliability Engineering Manager
- Siew Beng Ng, Principal System Engineer
- Po Hsun Li, Platform Engineer (Liquid Cooling)
- Parul Ihde, Credit Analyst
- Craig Mcclusky, Sr. Director Energy Sector and Midwest
Verified email and direct lines for Penguin Solutions’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Penguin Solutions in the news
- Penguin Solutions Launches AI Platform Operations Services to Accelerate Customers’ Time to Value and Safeguard SLA Achievement - Business Wire (Nov 12, 2026)
- Penguin Solutions Introduces Industry's First Production-Ready CXL-Based KV Cache Server - Data Center Frontier (Apr 15, 2026)
- Penguin Solutions to Showcase Full-Stack AI Factory Platform Innovations at SC26 - Business Wire (Nov 03, 2026)
- Penguin Solutions Announces Agreement to Sell Cree LED to Transom Capital Group - Business Wire (Nov 04, 2026)
- Penguin Solutions Introduces High-Bandwidth SMART Modular MRDIMMs for Next-Generation AI Data Centers - Business Wire (Nov 02, 2026)
- Penguin Solutions Announces Fourth-Quarter and Full-Year Fiscal 2026 Results - Business Wire (Oct 06, 2026)
- Penguin Solutions to Present at Goldman Sachs Communacopia + Technology Conference - Business Wire (Aug 19, 2026)
- Penguin Solutions to Participate in Rosenblatt's 6th Annual Technology Summit - Business Wire (Aug 11, 2026)
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About Penguin Solutions: questions and answers
What does Penguin Solutions do?
The Penguin Solutions™ portfolio, which includes Penguin Computing™ and Penguin Edge™, accelerates customers’ digital transformation with the power of emerging technologies in HPC, AI, and IoT with solutions and services that span the continuum of edge, core, and cloud. By designing highly-advanced infrastructure, machines, and networked systems we enable the world’s most innovative enterprises an
Where is Penguin Solutions headquartered?
Penguin Solutions is headquartered in Fremont, California, United States.
Has Penguin Solutions raised funding?
Yes. Fundz has recorded 2 funding events for Penguin Solutions. The most recent, Convertible Note of $650.0M, was in Jul 2026.
What is the latest news on Penguin Solutions?
On Nov 04, 2026, SEC 8-K (5.02): On November 4, 2026, it was announced that Joseph Clark, President of Optimized LED, will cease to serve as an executive officer of Penguin Solutions, Inc., effective upon the closing of the Transaction involving the sale of the company's Cree LED business. This departure is tied to
Is Penguin Solutions a public company?
Yes. Penguin Solutions is publicly traded under the ticker PENG.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy