Tech & AI
Who pays when AI eats the memory chips
6 stocks · 3 groups · Updated
AI data centers are buying up memory chips, and prices have jumped. Micron and Sandisk say it lifts their business, while server, PC and phone makers name higher memory costs and tight supply.
At a glance
01
The memory makers
MUMicron TechnologyMUMakes DRAM, NAND and HBM memory chips.
Micron says strong demand and limited supply have pushed memory prices up, and its profits with them.
“Robust overall DRAM and NAND demand and constrained supply has led to increased pricing and improved the profitability across our portfolio.”
Micron TechnologyMU
Makes DRAM, NAND and HBM memory chips.
Micron says strong demand and limited supply have pushed memory prices up, and its profits with them.
“Robust overall DRAM and NAND demand and constrained supply has led to increased pricing and improved the profitability across our portfolio.”
SNDKSandiskSNDKMakes NAND flash memory and storage.
Sandisk says today's demand has moved prices in its favour, and it expects that to help revenue and cash flow.
“The current demand environment has led to pricing shifts that have positively impacted our business, and we expect these favorable pricing trends to have a positive impact on our revenue and cash flows from operations.”
SandiskSNDK
Makes NAND flash memory and storage.
Sandisk says today's demand has moved prices in its favour, and it expects that to help revenue and cash flow.
“The current demand environment has led to pricing shifts that have positively impacted our business, and we expect these favorable pricing trends to have a positive impact on our revenue and cash flows from operations.”
02
Building the AI servers
SMCISuper Micro ComputerSMCIBuilds AI servers and data center systems.
Super Micro says short supply of memory and storage, among other parts, affected when it could deliver and what it paid.
“During fiscal year 2026, the computer server industry experienced supply constraints for certain components, including memory and storage, as well as GPU and CPU availability, which affected the timing of certain of our product deliveries, as well as the pricing of these items.”
Super Micro ComputerSMCI
Builds AI servers and data center systems.
Super Micro says short supply of memory and storage, among other parts, affected when it could deliver and what it paid.
“During fiscal year 2026, the computer server industry experienced supply constraints for certain components, including memory and storage, as well as GPU and CPU availability, which affected the timing of certain of our product deliveries, as well as the pricing of these items.”
03
The device makers
AAPLAppleAAPLMakes iPhones, Macs and other devices.
Apple names memory and storage chips among the parts in short supply and rising in cost.
“The Company is experiencing a period of supply constraints and increasing costs for components driven by factors such as industry supply-demand imbalances for components, including advanced semiconductors, storage (NAND) and memory (DRAM).”
AppleAAPL
Makes iPhones, Macs and other devices.
Apple names memory and storage chips among the parts in short supply and rising in cost.
“The Company is experiencing a period of supply constraints and increasing costs for components driven by factors such as industry supply-demand imbalances for components, including advanced semiconductors, storage (NAND) and memory (DRAM).”
HPQHP Inc.HPQMakes PCs and printers.
HP says memory and storage costs rose in its PC business this year, and it expects that to continue.
“During the nine months ended July 31, 2026, we experienced higher inflationary pressure in memory and storage costs and supply constraints in our Personal Systems business, which we anticipate will continue.”
HP Inc.HPQ
Makes PCs and printers.
HP says memory and storage costs rose in its PC business this year, and it expects that to continue.
“During the nine months ended July 31, 2026, we experienced higher inflationary pressure in memory and storage costs and supply constraints in our Personal Systems business, which we anticipate will continue.”
NVDANVIDIANVDADesigns AI chips and PC graphics cards.
Even NVIDIA felt it at the PC end, where higher memory and system prices slowed consumer PC sales.
“The increases were driven by strong sales of Blackwell workstations, partially offset by slower consumer PC sales that were tempered by elevated memory and systems prices.”
NVIDIANVDA
Designs AI chips and PC graphics cards.
Even NVIDIA felt it at the PC end, where higher memory and system prices slowed consumer PC sales.
“The increases were driven by strong sales of Blackwell workstations, partially offset by slower consumer PC sales that were tempered by elevated memory and systems prices.”
Why it matters now
AI data centers need huge amounts of memory, and memory makers can't add capacity overnight. That shows up in two places at once: higher profits for the chip makers, and higher costs for the companies that put memory in servers, PCs and phones.