When I first initiated coverage on Penguin Solutions, Inc. (NASDAQ: PENG ), I argued that Penguin was one of the most overlooked AI infrastructure players in the market. At the time, the stock traded below 1x EV/Sales even thoughI’m Emmanuel Onwusah—a financial analyst, writer, and recovering engineer. I hold FMVA® and BIDA® certifications from the Corporate Finance Institute, and I spend most of my time creating pitch decks, building models, analyzing companies, and trying to make sense of where value meet ...