Penguin Solutions 13D filing reveals SK hynix acquires $377M stake

SK hynix takes 9.1% beneficial ownership in AI infrastructure firm Penguin Solutions, consolidating SK Group's bet on the AI data center buildout. SK hynix just made its AI infrastructure ambitions considerably more concrete. The South Korean memory giant disclosed via a Schedule 13D/A filing on November 2 that it acquired 200,000 shares of Penguin Solutions convertible preferred stock for $377.16 million, a transaction that closed on October 29. The deal gives SK hynix a 9.1% beneficial ownership stake in Penguin Solutions on an as-converted basis, priced at $1,885.81 per share. The shares did not come from the open market.

Source: Crypto Briefing