SK hynix Takes 9.1% Stake in Penguin Solutions for $380.3 Million

SK hynix ($SKHY) now holds a 9.1% stake in Penguin Solutions ($PENG), according to an SEC filing, after acquiring SK Telecom’s convertible preferred shares for $380.3 million.
The investment is nearly double the $200 million SK Telecom originally invested in 2024.
The transaction also transfers SK Telecom’s board nomination rights to SK hynix, strengthening its strategic involvement with Penguin Solutions.