Memory chip market surge drives AI demand and sparks RAM price‑manipulation lawsuit

Investors are riding a historic boom in memory chips as artificial‑intelligence workloads fuel unprecedented demand for DRAM and high‑bandwidth memory (HBM). Prices for RAM have risen roughly 700 % over the past four years, and analysts expect the surge to continue until new capacity from major fabs comes online in 2028. Micron reported a 346 % year‑over‑year increase in third‑quarter revenue to $41.5 billion, while Samsung and SK Hynix have also seen revenues and share prices explode.

A collective lawsuit filed in Northern California accuses Samsung, SK Hynix and Micron of coordinating a reduction in DDR4 and DDR5 production to create an artificial shortage and push customers toward the more expensive HBM used in AI systems. The complaint cites a 700 % price jump and references earlier antitrust findings against the same firms in 2005. The companies deny the allegations, pointing to technical shifts and the long lead times for new fab construction.

Industry analysts stress that memory cycles remain fundamentally cyclical; capacity discipline and the long build‑out time for new factories mean that any major supply increase is unlikely before 2028, with a potential slowdown projected for 2029 as new sites become operational.