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 have 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 t

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 have 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.