Penguin Solutions Memory Business Soars on AI Demand; Stock Eyes Rally
Penguin Solutions' memory business is showing strong demand driven by artificial-intelligence data centers, according to a Tuesday report. The company's raised outlook may help revive its stock, which has faltered recently. Shares rose 6.4% in premarket trading on Wednesday.
Penguin Solutions said its memory business added another indication on Tuesday that artificial-intelligence data centers are boosting demand for hardware, while the company’s raised outlook could help restart a stock rally that has weakened in recent months. 4% in premarket trading Wednesday.