PENG · Penguin Solutions, Inc.Penguin Solutions, Inc.
📋 PENG is an integrator like SMCI, DELL, FLNC, not a high-margin semiconductor IP holder, explaining its low P/S ratio
PENG is an integrator like SMCI, DELL, FLNC, not a high-margin semiconductor IP holder, explaining its low P/S ratio.
Evidence & details
- +PENG builds a 2U box inside the rack around Celestial/Marvell's photonic memory IP.
- +It is at the development collaboration stage, not even in qualification stage.
- +High-margin foundational IP belongs to companies like Celestial or Lightmatter, not PENG.
- −Retail misunderstanding of the different layers and conflation of PENG as core IP developer.
- −Upside would require passing sampling stage, which is uncertain.
Chart
Post Timeline · 1 posts
Very nuanced. People buying $PENG for $MRVL "photonic memory" are likely to be disappointed. They're on the $SMCI integrator level with potential software add. The high margin, foundational IP belongs to companies like Celestial or others like Lightmatter. What they do is bui…
Thesis: PENG is not the core photonic memory IP owner; it is an integrator building a chassis around Celestial/Marvell's IP, and the development is at an early stage. Investors conflating PENG with MRVL's pho…
PENG is not the core photonic memory IP owner; it is an integrator building a chassis around Celestial/Marvell's IP, and the development is at an early stage. Investors conflating PENG with MRVL's photonic memory are likely to be disappointed.
source ↗PENG is an integrator like SMCI, DELL, FLNC, not a high-margin semiconductor IP holder, explaining its low P/S ratio.
source ↗