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The rapid expansion of artificial intelligence and cloud computing has driven up demand for chips, particularly high-bandwidth memory, for which demand exceeds available production capacity by about 200%. The shortfall is expected to reach 25% to 30% this year or in 2027. The crisis has also affected consumers: global smartphone prices rose 14% in the first quarter, as limited supply and higher component costs led manufacturers to pass some of those costs on to buyers. Despite estimates that five major technology companies will spend $4.2 trillion between 2026 and 2030, 56% of CEOs said their companies have yet to see significant financial benefits from AI, though substantial returns are expected by 2030.
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