SK hynix Inc. affiliate SHIFTIX1 LLC bought SK Telecom Co., Ltd.’s preferred stake in AI infrastructure supplier Penguin Solutions, Inc. for $377.2 million, gaining investor rights along with the shares.
The sale closed Oct. 29. SK hynix filed a Schedule 13D with the SEC on Tuesday. SK Telecom and its investment vehicle, Astra AI Infra LLC, reported the transaction in an amended Schedule 13D, and a Form 4 recorded the disposal.
Astra transferred all 200,000 convertible preferred shares to SHIFTIX1 for $377,162,666, or about $1,885.81 per share. SK Telecom and Astra reported no beneficial ownership in Penguin after the sale.
The July 27 agreement assigned Astra’s rights at closing; an Oct. 29 joinder recognized SHIFTIX1 as an investor. Those include board nomination, consent, registration and pro rata rights.
Penguin provides computing infrastructure and memory products for AI data centers. Its 2026 annual report says Astra bought the preferred shares from Penguin for $200 million in December 2024.
