Surging memory chip prices dim outlook for consumer electronics makers

Global demand for smartphones, personal computers and gaming consoles is expected to shrink this year as companies ⁠from Britain’s Raspberry Pi to HP Inc raise sticker prices to offset surging memory chip costs.

The rapid build-out of artificial intelligence infrastructure by U.S. tech firms such as OpenAI, Alphabet-owned Google and Microsoft has absorbed much of the world’s memory chip supply, pushing up prices as manufacturers prioritize components for higher-margin data centers over consumer devices.