technology
Memory chip prices surge as demand outstrips supply
Apple and Tesla raised product prices after memory costs reached record levels. Executives at both companies called for increased production to ease shortages.
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Apple increased prices on MacBooks, iMacs, iPads, HomePods, and Apple TV by as much as $300 on Thursday. Microsoft raised Xbox console prices by $100 to $150 effective August 1. The price increases follow sharp rises in memory chip costs driven by demand from data centers and AI infrastructure. Consumer electronics makers have passed higher component expenses to buyers.
Industry response Tesla CEO Elon Musk said the memory cost increase is the biggest price jump he has seen. He stated that "MUCH higher production is needed" to address the shortfall. " Both executives pointed to surging chip demand as the core issue.
The Tesla CEO has previously discussed the need to secure memory supply for the company's AI projects. No timeline for expanded production was provided.
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