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The AI data center boom has caused memory and GPU prices to skyrocket and component shortages, while consumer PC industry sales have plummeted over 70%. Industry experts believe PC ownership is being replaced by a cloud rental model.
AI-driven demand for high-bandwidth memory (HBM) is constraining consumer RAM production, causing price increases for devices like cheap smartphones, especially in emerging markets.
The article argues that AI's insatiable demand for memory is driving up production costs of smartphones, ending the era of cheap handsets and pricing out low-income consumers, particularly in Africa and the Middle East.