SK hynix ($SKHY) Takes 9% Stake in Penguin Solutions ($PENG) in $377M Deal

SK hynix ($SKHY) now holds approximately 9% of Penguin Solutions ($PENG) after acquiring SK Telecom’s $377 million preferred stake.
The investment could offer strategic value beyond the financial return. Penguin Solutions is developing technologies involving Compute Express Link (CXL) and SSD-based KV cache, which could give SK hynix firsthand insight into emerging memory bottlenecks as AI inference workloads continue to scale.
The partnership highlights the growing importance of memory infrastructure in supporting increasingly demanding AI applications.