Rise in memory chip costs puts pressure on retailers of laptops and smartphones

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As the global artificial intelligence race accelerates, memory chips are getting more expensive. As a result, costs of some consumer electronics are beginning to rise for retailers and consumers alike.

Memory storage, known as RAM, is crucial for all computing devices, including phones, tablets and laptops. The cost of chips has been rising due to a supply shortage driven largely by massive demand for AI data centers. Companies such as Nvidia, Advanced Micro Devices and Google have been scrambling to secure RAM for their chips.