Penguin Solutions

Until late 2024 this company traded as SMART Global Holdings; it renamed itself Penguin Solutions to foreground the part of the business investors now care about, designing and running high-performance computing clusters for artificial intelligence. Based in Milpitas, California, it does three fairly different things: it stands up and manages large AI and HPC systems under the Penguin Computing name, makes specialty memory modules for servers and other equipment, and sells LED components through the Cree LED brand. The AI infrastructure line is the growth story and the reason for the rebrand, while memory ties results to the cyclical DRAM market. Managing customers' clusters rather than just shipping hardware gives Penguin recurring service revenue, though it remains far smaller than the hyperscalers it helps equip.

On MyRWA, PENG trades tokenized across 13 on-chain venues - see the listings below.