SK hynix has increased its investment in the AI infrastructure company Penguin by purchasing a preferred shareholding formerly owned by SK Telecom. The acquisition of the position for $377.2 million secures a 9.1% interest in the company at approximately $61.87 per share and entitles the memory chipmaker to name a member to Penguin’s board of directors.
The deal is an internal transfer within the SK group. Penguin specializes in the development of CXL and SSD based KV cache technology, which allows SK hynix to gain technical insight into the memory bottlenecks that arise as AI inference operations scale.
