SMART Global Holdings, Inc. announced its intention to become Penguin Solutions, Inc. This rebranding is a continuation of the company's transformation over the past several years and reflects its focus on delivering solutions that solve the complexity of AI. The new Penguin Solutions is uniquely positioned as an expert in end-to-end AI infrastructure solutions. With more than 25 years of high-performance computing experience and more than 75,000 GPUs deployed and managed to date, Penguin Solutions has long been a trusted strategic partner for enterprises looking to harness the power of AI.

SGH's decision to adopt the Penguin Solutions name across its brands builds on this reputation and marks the start of a new era for the firm. SGH is expected to complete its transition to Penguin Solutions later this year subject to shareholder approval. The Cree LED brand, also a business unit of SGH, will remain unchanged and will continue to do business as Cree LED.