U.S. tech firms are warning of a growing memory chip shortage as demand from artificial intelligence projects surges. Dell, HP, and other companies say the memory chip shortage could raise costs across electronics and computing industries. The issue has prompted stockpiling and price adjustments as firms compete for limited supplies.
Consumer electronics makers, including Xiaomi and Lenovo, have already begun preparing for higher prices in 2026. Counterpoint Research forecasts memory module costs could rise by 50 percent through mid-next year. The memory chip shortage affects both processing and storage chips, creating broad industry challenges.
Dell Chief Operating Officer Jeff Clarke said the company has never seen costs rise this quickly. He noted tight supplies in DRAM, NAND flash memory, and high-bandwidth memory used in AI systems. Clarke warned that price increases may ultimately reach customers despite adjustments to product configurations, highlighting how serious the memory chip shortage has become.
HP Chief Executive Officer Enrique Lores predicted a particularly difficult second half of 2026. The company plans to increase prices where necessary and bring on additional memory suppliers. Lores also highlighted steps to use less memory per device, aiming to manage costs for consumers amid the ongoing memory chip shortage.
Top memory producers are benefiting from the supply crunch. Samsung Electronics, SK Hynix, and Micron Technology have seen surging stock values. SK Hynix already sold its entire memory chip lineup for next year, and Micron expects tight supply to continue.
The shortage also affects the broader AI supply chain. Semiconductor Manufacturing International Corporation said prioritizing memory for Nvidia’s AI systems limits availability for other products, including cars and phones. Xiaomi has raised device prices in anticipation of rising memory costs, and Lenovo sees an opportunity to capture more market share by leveraging its supply chain.
Apple remains relatively insulated due to its scale and supplier relationships. CFO Kevan Parekh said new products may have slightly higher costs, but the company is managing overall expenses. Other U.S. and Taiwan-based PC makers are stockpiling memory and planning to hold prices steady for the holiday season.
Experts warn that the memory chip shortage may persist for several quarters. CLSA Securities’ Sanjeev Rana said demand is strong for both advanced and conventional memory, while supply continues to lag. U.S. technology companies face a challenging year as AI infrastructure and consumer electronics continue to drive unprecedented memory demand.
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