Penguin Solutions Stock Jumps 13% as AI Memory Crunch Puts PENG on Traders’ Radar
Penguin Solutions shares jumped 13.47% to $44.23 Friday after the company raised its fiscal 2026 sales and profit outlook. Memory chip prices have doubled since January and may climb another 63% this quarter, tightening supply for AI data centers. Second-quarter sales fell 6% to $343 million, but earnings per share rose to 58 cents from 9 cents a year ago.