Apple blames inflationary effect of AI for price hikes: ‘We have never seen a component price increase this much’

Apple on Thursday announced an increase in prices for Macs and iPads, citing a memory chip shortage brought on by the artificial intelligence boom.

The Cupertino, California-based company called the demand spike an “unprecedented challenge” for the consumer electronics industry.

“The rapid expansion of AI data centers has created an extraordinary surge in demand for memory and storage. We have never seen a component price increase........

© Fortune