# Penguin reports $567 million Q4 revenue and Norway AI factory deal

_Published Friday, October 9, 2026 at 6:18 AM EDT · Products, Infrastructure · Latest · Tier 2 — Notable_

![The Globe and Mail — Primary](https://www.theglobeandmail.com/pf/resources/assets/meta/twitter-summary-240x240.png?d=976)

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

- [The Globe and Mail](https://www.theglobeandmail.com/investing/markets/stocks/PENG/pressreleases/5152274/penguin-solutions-rides-ai-wave-to-record-quarter/)

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Canonical: https://techandbusiness.org/newswire/rPJ9D3ws9YtHyKvAwi1kPf
Published: 2026-10-09T10:18:53.270Z
Story chronology: 2026-10-09T09:29:00.000Z
Retrieved: 2026-10-09T12:13:58.275Z
Publisher: Tech & Business (techandbusiness.org)