Penguin Solutions, Inc. (PENG) is experiencing a notable rise in its stock price today following the announcement of a strategic partnership with SK Telecom and SK hynix to develop AI data center solutions. This collaboration, revealed early Friday morning, is expected to enhance Penguin Solutions' capabilities in the rapidly growing AI sector, potentially opening new revenue streams and strengthening its market position. The news has generated significant investor interest, contributing to the stock's upward momentum.
As of 10:00 am on Friday, Penguin Solutions' stock is trading at $20.71, marking an 8.29% increase from its previous close of $19.13. The stock opened at $21.34, and despite a slight decline from the opening price, it remains significantly higher than the previous day's close.