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SGH Announces $200 Million Strategic Investment from SK Telecom to Advance End-to-End AI Infrastructure Solutions
NEW YORK--(BUSINESS WIRE)-- SMART Global Holdings, Inc. (“SGH”) (NASDAQ: SGH), a leading designer and developer of high-performance, high-availability
About this update from Penguin Solutions, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nSMART Global Holdings, Inc. (“SGH”) (NASDAQ: SGH), a leading designer and developer of high-performance, high-availability enterprise solutions, today announced that SK Telecom (“SKT”) (NYSE: SKM), an affiliate of SK Group, is making a $200 million preferred equity investment in SGH. SGH plans to use the capital from SKT’s investment to enhance SGH’s capabilities and add to the Company’s financial flexibility as SGH further expands the scope and scale of its Penguin Solutions branded end-to-end AI factory offerings.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240715061470/en/(L to R) Ryu Young-sang, CEO of SKT, and Mark Adams, CEO of SGH, announce that SK Telecom, an affiliate of SK Group, is making a $200 million preferred equity investment in SGH (SMART Global Holdings) to enhance SGH’s capabilities in AI and to innovate and execute on strategic collaborative opportunities. (Photo: Business Wire)\nSKT and SGH also intend to leverage their complementary capabilities to enhance customer offerings in the development of differentiated global end-to-end AI factory and data center solutions and services, advanced memory market products and services, and NPU-based AI edge servers.\n\n\n“We are thrilled to have SKT as a strategic investor,” said Mark Adams, CEO of SGH. “Today’s announcement is a testament to Penguin Solutions’ capabilities in the deployment of AI factories at scale through our systems, software, and managed services suite of solutions. We look forward to executing on strategic collaboration opportunities with the SKT team and believe they will create value for our respective stakeholders.”\n\n\nRyu Young-sang, CEO of SKT added, “SGH and Penguin Solutions have a proven methodology to deploy their AI infrastructure solutions at some of the most innovative and demanding large-scale enterprise customers in the world. We believe that this collaboration leveraging SKT's vast technology portfolio with Penguin's AI data center solutions would enhance the reach and capabilities of both companies and position them to continue innovating in their fields.”\n\n\nPenguin Solutions has demonstrated its premier technology position through the development and deployment of innovative AI-driven technologies, such as high-performance and hi...