AI TRENDS | Analyst Says AI Investment Boom Risks Adding to Inflation Outlook

An RSM UK analyst said intensifying competition for memory chips driven by rising investment in artificial intelligence is beginning to show up in consumer prices. According to Jin10, RSM UK analyst James Bull wrote in a report that Apple and Microsoft have issued price increase notices, which he said confirms the industry’s response to supply-chain shortages. Bull said demand for memory chips has reached a level that supply chains cannot keep up with, creating shortages. He added that the cost of building an AI-driven economy is being passed on to consumers and could also feed into the inflation outlook. Bull expects the four largest U.S. technology companies to spend $725 billion on data centers and AI equipment in 2026. He also said industry leaders have suggested the shortages could persist beyond 2028.