Penguin Solutions Appoints Stephen Cumming as CFO, Posts Q4 Profit Surge on AI Demand

Penguin Solutions named Stephen Cumming CFO effective immediately. The company reported Q4 net income of $93.2 million, up from $9.4 million a year earlier, driven by AI infrastructure demand. Revenue of $566.7 million topped analyst estimates. Shares gained 7.8% in after-hours trading. The company raised its fiscal 2027 outlook.