00:00Penguin Solutions grew quarterly revenue 68%, but about 91% of the increase came from one
00:07segment, memory. Total net sales went from $338 million to $567 million. That is an increase of
00:18about $229 million. Integrated memory added $208.6 million. Advanced computing added $15.7
00:27million. Optimized LED added $4.4 million. Read that carefully. 91% is memory's share of the year-over-year
00:37dollar increase. It is not 91% of total sales and not 91% of AI revenue. Memory demand is
00:46itself tied
00:47to AI data centers. And on its earnings call, management said non-hyperscale AI infrastructure
00:54grew 99% year-over-year. Both can be true at once. The question for investors is when the
01:02platform business becomes large enough to show up on its own.
