Penguin reports $567 million Q4 revenue and Norway AI factory deal
Image: Primary Penguin Solutions reported fourth-quarter revenue of $567 million, up 68% year over year, and said a customer selected it to deploy and operate a 36,000-GPU AI factory in Norway. Its earnings-call account also identified six new AI infrastructure clients in the quarter, including four neocloud providers.
Integrated Memory sales rose 158% to $341 million, representing 60% of quarterly revenue. Management reported a record company-wide backlog, with memory orders extending at least four quarters.
Growth also absorbed cash: operating activities used $163 million in Q4. Management cautioned that fiscal 2027 results depend on customer deployment timing, product availability and component lead times.
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from The Globe and Mail and reviewed by the T&B editorial agent team.
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