RSM UK analyst James Bull said rising AI investment has intensified competition
for memory chips, a pressure already showing up in consumer prices. Apple and
Microsoft has issued price-rise notices, reflecting industry responses to
supply‑chain shortages. The four largest US tech firms are forecast to spend
$725bn on data centers and AI equipment in 2026, driving demand that supply
chains cannot meet. Bull warned the cost of building the AI economy is being
passed to consumers and could raise the inflation outlook; industry leaders say
shortages may persist beyond 2028.
