{ "text": "In 2025, this MacBook Pro cost $1,600.Less than a year later, the same laptopcost $400 more. Apple says it's because\nof demand for memory and storage fueledby the [music] rapid expansion of AIdata centers. That's the exact same\nreason Xbox gave for a $150 price hikeon its nearly 6-year-old console.Lenovo, Dell, and HP have all raised\nprices, too, citing the same culprit.>> Just these seven drives alone is over $6or $7,000. When I [music] bought them,\nthey were probably about $1,500 all in.These prices aren't [music] tethered tonew technology. They've just gone up\nbecause some center and some place needsthem more than I do. The narrative isthat AI data centers are buying up huge\namounts of memory and chips, causingshortages and skyrocketing prices foreveryday electronics. There's just one\nissue. Data centers don't use the sametype of microchips as your phone orlaptop. And now the world's biggest\nmemory chip makers are being sued forallegedly colluding to inflate prices.So who or what is actually [music] to\nblame? AI data centers or the companies\nmaking the chips?\nAnd could a moratorium on data centersactually force prices down?\nTo know what's really going on withese tech prices, we first need tounderstand three types of microchips.NAND, DRAM, and HBM. In terms of memory,\nthey work a bit like the human [music]brain. NAND is like your long-termemory. It holds on to information even\nafter a device is powered off.>> Think of an iPhone is the best example.If you take a lot of photos, a thousand\nphotos in a month or something like thatand they're on your phone, that'susually stored in in nan storage.>> DRAM [music] or dynamic random access\nmemory is your short-term memory, fastbut temporary, and it clears the momentyou switch the power off. HBM or high\nbandwidth memory is essentially DRAM onsteroids. It's the same kind ofshort-term memory, but it's designed to\nprocess much more data at once, morethan any human brain could. While NANDand DAM chips are used to power devices\nlike smartphones, tablets, computers,and smart TVs, HBM chips are used topower AI systems. All DRAM, NAND, and\nHBM microchips start out as thin siliconwafers. The key point is that the moreof these tiny tiny cells and connections\nyou can cram onto a wafer, the more datayou can store onto that.>> HBM is a whole other level of storagecapacity. HBM takes one of those chips\nand they stack them vertically next toanother one and then another one andthey're kind ofpackaged together in a kind of 3D shape.\nWhen you mash all those chips together,you get a lot more memory. HBM can movedata 5 to 10 times [music] faster than a\nstandard DRAM chip. Its stack designalso makes manufacturing [music] HBMchips significantly more complex.\n>> All that complexity just basically meansthat that they [music] um they're muchmore expensive to manufacture and\nactually they take a lot more kind ofmanufacturing capacity.>> These HBM chips are the backbone of AIdata centers and demand for them is\nthrough the roof. So if HBM is whatpowers AI, why is there a shortage ofthe other two types? It all comes down\nto just three companies. Micron,Samsung, and SKHX.Together, they produce more than 60% ofthe world's NAND [music]\nand nearly 90% of its DRAM. All threecompanies have shifted at least some oftheir production capacity to building\n[music] HBM microchips. And the stockprices for all three companies jumpedmassively between June 2025 and June\n2026.>> If you're a memory chip company,obviously you're going to go to the bestcustomers, and right now those are the\nAI companies.>> That means less capacity to produce theother kinds of chips. This shift is nosurprise when you realize how central AI\nhas become to the US economy.>> Largest capital spending booms we'vever seen.>> Artificial intelligence is transforming\nthe economy right before our eyes. 80%of stock gains this year came from AIcompanies.>> Altogether, tech giants Google,\nMicrosoft, Meta, and Amazon [music] havespent more than $1 trillion on expandingAI since 2023.As of August 2026, [music]\nthere are 2,228new data centers in planning orconstruction stages across the US. Withless DRAM and NAND available, prices are\nsoaring. Thosehigher component costs land onelectronics companies, but instead ofcompletely absorbing the extra expense,\nthey're passing the bill onto customers.For instance, in [music] June, Xboxannounced it would raise the price of\nits $512 GB Series S gaming console from$400 to [music] $500 and the 1 TBTEversion from $450 to $600. It alsoannounced it would be discontinuing its\ntwo TBTE console. We went to a gamingtournament at OSNYC to see how gamersare taking the news.>> All right. All right.\n>> You know, I was thinking about buying aXbox Series S and back then it was itwas nice and affordable. It was around\nlike $300 because of what's going on.It's up to $600. It's just out out of mybudget. The vast history of gaming is a\ngreat story. I just hope that that storydoesn't have a bad ending coming soonwith uh with all the AI muck and penza.\n>> And it's not just Xbox PC gaming gear isgetting hit, too.>> I was expecting to go buy a Steam Deck,but because of the AI bubble and what\nhe storage is, it's completely soldout. They finally stock, but theyincreased the prices just to match the\nthe current market. Xbox CEO AshaChararma has already said that thegaming industry is pricing out someconsumers. Price hikes like this are\nxacerbating it.>> I may have to play gaming and startwatching sports.>> Frustration over Xbox's plans tocontinue raising prices into 2027 is\nomething gaming YouTuber Luke Stevenshas seen firsthand.>> Who among you is buying that [music]for, let's say, $9.99? We're going to\nlet this scroll and see where you're at.Jesus, I see a good number of notes.[laughter]>> While Xbox [music] has not announced the\nprice of its next generation console,the company warned that console memoryand storage costs are expected to double\nagain by the fall of 2027. Theannouncement isn't surprising, but it itsure is disappointing. You know, we have\na 6-year-old console that is for the toptier variant, you know, approaching$1,000.So, can you only imagine what the new\none is going to cost? [laughter] You\nknow, like that's it's created a feelingof dread among a lot of the gaming[music] community where normally there's\nexcitement right around this time.>> Luke says these pricing trends areslowly changing the landscape of gaming.\n>> I think they're going to start tobasically sell consoles like they sellcell phones where it's just yeah, you\nget on a 2-year, threeyear plan orwhatever and that's just how it isbecause it is just getting to a pointwhere it's just not affordable for\npeople to own it outright. There's justnot that many people that can afford,especially right now, a 12 to $1,500\nconsole. When all is said and done, itjust doesn't work. Like, the math isn'there. The thing is, Microsoft, Xbox's\nparent company, is one of the companiesinvesting heavily in data centerexpansion. Business Insider mapped out\n1,416built or approved data centers as ofJune 2026. 53 of those were built byMicrosoft, and many of them are massive.\nOf the companies we tracked, only Amazonsurpassed Microsoft in large-scale datacenter construction. Microsoft expects\nto spend roughly $175 billion on AI in2026 alone. So, if Microsoft is buyingenough HBM chips to run its datacenters, why won't it do the same for\nits gaming division? The issue is there\nsimply aren't enough chips to go around.Even the most powerful companies arestruggling to get their hands on the\nshrinking supply. Apple is one of if nothe largest purchaser of a lot of theselike memory modules and stuff at least\nfor consumerf facing hardware uh in[music] the world and so for them to befacing the same difficulties with\nacquiring the pieces that they need tobuild the their electronics is prettyremarkable. Apple has kind of lost\ncontrol of the computer supply chain alittle bit lately because it doesn'thave a lot of AI data centers. Rising\nmemory prices are hitting the people whorely on storage to make a living.Atlanta commercial photographer Alan\nKulie says he typically spends anywherefrom $15,000 to $20,000 on storagedevices each year. The biggest price\nhikes he's noticed are for solidstatedrives. These are more traditional SSDsor solid state drives that I use. This\na 4 TB SanDisk. [music] This is a twoTB SAM disc. These are Samsung's.They're T7s. These T5 drives, these are\nlike 1 TBTE. Just these seven drivesalone is over $600 or $7,000. When Ibought them, they were probably about\n$1,500 all in. This is a 500 gig CFastcard. I use this when I'm doing um stuffwith my cinema cameras. My photo cameras\nwill use CFast or CF Express cards,[music] and they'll also use SD cards.All in, everything you see here is about\n$7,500. If we were to go up to 200%,which is something I've definitely seen,we're talking about what is that 21,000\n$22,000 for the same stuff that was just$7,000. [music]That's I could not have bought half ofthis stuff if the numbers were that\nhigh.>> We had Allan compare the prices he paidfor storage [music] in the past withwhat they'd cost him today.\n>> So, I'm looking at the blue 4 terbteSamsung T7.It is currently $889.Um, and that's a sale, but because it's\nactually $1,144.99.When I go to my receipt for thesedrives, I bought it at the time for$285.That $285 drive is now well over $1,000.\nI purchased this drive in April on April19th of 2025.April 19th of 2025 till July of 2026,we're talking about it has gone up over\n200%.Crazy. But when I scroll through hereand I see the prices of SSDs today, andthe idea that they expect me to use my\nhard-earned money to pay this much forsomething that was whatever 200% cheaperjust last year alone, they are bugging.\nlike Apple and Xbox, photographers couldsoon feel forced to [music] pass risingstorage costs on to their clients.\n>> I am in this actual moment blown away.These prices aren't tethered to newtechnology. It's not that they went up\nbecause they become so exponentiallybetter than they were.>> Allen's story is identical to the onesJeff Hirs has been hearing from his\ncustomers, too.>> They say, \"Well, [music] I don'tunderstand this. Last year this was onlya $50 memory card. It now it's over\n$100.Why?\n>> Jeff is the president of Photo Care, acamera store in New York established in1968. [music] He says prices for memory\ncards and solid state drives havedoubled since the beginning of 2026.>> Solid state drive became a standard and\nit's actually [music] small now, 1 TBTE.So this right now is over $300 and 8months ago before the turn of the year\nit was maybe [music] $170. One customerthat was shooting a movie bought cardsthat were effectively say $500 a card\nlast year or the last time [music] thatperson bought more cards uh they were$1,300 a card. He says the high prices\nfor memory have put financial pressureon his clients who depend on them forwork.>> It's just a tough spot right now for\n[music] people that are using electronicameras in making their their living.We've seen [music]our media sales numbers as far as\nquantity decrease by30%.>> Jeff worries recent price hikes couldhave broader implications for theindustry. I don't want to say [music]\nit's putting electronic media out ofreach of some people, but it is comingclose to that.So, is there any relief in sight?\nPossibly. One solution is to open morechip factories known as fabs to increasesupply. But opening a fab is not cheap.\nThe cost of building one is estimatedbetween $15 billion and$20 billion. Themajority of that cost comes from the\nxpensive machines needed to make thesechips. Just one cost up to $400 million,and a single facility needs rows and\nrows of them. Keeping FABs clean is alsovery expensive. Many requirespecifically designed clean rooms to\nprotect sensitive silicon wafers fromdust and other airborne particles thatcould cause microscopic defects. And\neven if the cost of construction weren'tan issue, it would still take 3 to 5years to build a single fab.>> You can't just flick a switch and say we\n're going to double the amount ofmemory chip production [music] in 6months.>> SK Heinix told Business Insider that\nit's fasttracking the construction ofFABS with the Yongen semiconductorcluster, which was scheduled for\ncompletion in 2045, but has been movedup to 2023. Some critics believe thememory shortage may be manufactured. In\nJune 2026, 17 plaintiffs filed a classaction antirust [music] lawsuit allegingthat Micron, Samsung, and SKH Highix\nworked together to limit memory supplyand drive up prices. This is not thefirst time these companies have been in\nhot water. In the early 2000s, Samsungand Heinix pleaded guilty to conspiring[music] to fix jam prices. Micron\nadmitted to participating in the sameconspiracy, but escaped prosecution bycooperating with federal investigators.\n>> When that type of demand hits anindustry like this, there's a lot lessleeway and there's really a lot more\ncontrol that these three or fourcompanies exert over the industry.Sometimes that's okay, but sometimesit's really really damaging and it'll be\n[music] up to the people involved inthis lawsuit to to prove those damagesbeyond beyond a reasonable doubt.\nAnother solution would be slowing thexpansion of AI data centers to helpchip production catch up. And that push\nis growing. Data centers have facedgrowing backlash from communities acrossthe US for their long-term effects on\nboth the environment and the economy. IfAI data center construction slows byhalf or it takes twice as long to\ndevelop these things or or if fewer ofthem [music] actually get done oractually get approved, then you could\nreally have a change in in AIdemand for memory chips for sure.>> On July 18th, 2026,142 protests opposing data center\nbuildouts took place across 42 states.So far, dozens of local governmentsacross the US have [music] moved to\npause data center construction. In July2026, New York became the [music] firstate to enact a one-year moratorum.\n>> This pause will remain in place for upto one year, while New York establishesthe strongest possible framework to\nprotect our communities. If politics andthings like permitting and things likethat, if those types of issues slow down\nAI development, you could certainly seea knock-on effect on demand for memorychips and storage. The only question\nleft is whether in the age of AI, memory[music] prices will ever go down. Ifwhat's past is prologue, Alistair says\nhistory might give us a clue.>> Go back two or three decades, the memorychip industry was hugely cyclical. So\nthere'd be these huge boom periods wheredemand would go up and there wasn'tenough supply and prices would really\nrise and [music] memory chip makerswould make massive amounts of money andthen demand would slow down a bit.\nProduction would increase and there'd beover supply and then prices would crashback down. That type of long-term\nhistory of boom and bust cycles is veryhard to break. We might just makeway too many memory chips in two years\ntime and then prices will come crashingdown again. I've been doing this for 20or 30 years now and and a lot of things\nthat people thought would last foreverhaven't lasted forever. So, I think Ithink that's certainly going to be true\nagain.", "language": "en", "duration": 1069.0, "segments": [ { "id": 0, "start": 0.32, "end": 10.88, "text": "In 2025, this MacBook Pro cost $1,600.Less than a year later, the same laptopcost $400 more. Apple says it's because", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 1, "start": 10.88, "end": 18.48, "text": "of demand for memory and storage fueledby the [music] rapid expansion of AIdata centers. That's the exact same", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 2, "start": 18.48, "end": 28.48, "text": "reason Xbox gave for a $150 price hikeon its nearly 6-year-old console.Lenovo, Dell, and HP have all raised", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 3, "start": 28.48, "end": 35.6, "text": "prices, too, citing the same culprit.>> Just these seven drives alone is over $6or $7,000. When I [music] bought them,", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 4, "start": 35.6, "end": 42.079, "text": "they were probably about $1,500 all in.These prices aren't [music] tethered tonew technology. They've just gone up", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 5, "start": 42.079, "end": 49.039, "text": "because some center and some place needsthem more than I do. The narrative isthat AI data centers are buying up huge", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 6, "start": 49.039, "end": 55.92, "text": "amounts of memory and chips, causingshortages and skyrocketing prices foreveryday electronics. There's just one", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 7, "start": 55.92, "end": 62.559, "text": "issue. Data centers don't use the sametype of microchips as your phone orlaptop. And now the world's biggest", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 8, "start": 62.559, "end": 69.84, "text": "memory chip makers are being sued forallegedly colluding to inflate prices.So who or what is actually [music] to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 9, "start": 69.84, "end": 72.64, "text": "blame? AI data centers or the companies", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 10, "start": 72.64, "end": 75.04, "text": "making the chips?", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 11, "start": 75.04, "end": 81.99, "text": "And could a moratorium on data centersactually force prices down?", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 12, "start": 82.0, "end": 92.88, "text": "To know what's really going on withese tech prices, we first need tounderstand three types of microchips.NAND, DRAM, and HBM. In terms of memory,", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 13, "start": 92.88, "end": 99.2, "text": "they work a bit like the human [music]brain. NAND is like your long-termemory. It holds on to information even", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 14, "start": 99.2, "end": 106.24, "text": "after a device is powered off.>> Think of an iPhone is the best example.If you take a lot of photos, a thousand", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 15, "start": 106.24, "end": 114.56, "text": "photos in a month or something like thatand they're on your phone, that'susually stored in in nan storage.>> DRAM [music] or dynamic random access", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 16, "start": 114.56, "end": 122.719, "text": "memory is your short-term memory, fastbut temporary, and it clears the momentyou switch the power off. HBM or high", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 17, "start": 122.719, "end": 130.0, "text": "bandwidth memory is essentially DRAM onsteroids. It's the same kind ofshort-term memory, but it's designed to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 18, "start": 130.0, "end": 138.319, "text": "process much more data at once, morethan any human brain could. While NANDand DAM chips are used to power devices", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 19, "start": 138.319, "end": 147.52, "text": "like smartphones, tablets, computers,and smart TVs, HBM chips are used topower AI systems. All DRAM, NAND, and", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 20, "start": 147.52, "end": 156.08, "text": "HBM microchips start out as thin siliconwafers. The key point is that the moreof these tiny tiny cells and connections", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 21, "start": 156.08, "end": 167.519, "text": "you can cram onto a wafer, the more datayou can store onto that.>> HBM is a whole other level of storagecapacity. HBM takes one of those chips", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 22, "start": 167.519, "end": 175.68, "text": "and they stack them vertically next toanother one and then another one andthey're kind ofpackaged together in a kind of 3D shape.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 23, "start": 175.68, "end": 184.8, "text": "When you mash all those chips together,you get a lot more memory. HBM can movedata 5 to 10 times [music] faster than a", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 24, "start": 184.8, "end": 192.239, "text": "standard DRAM chip. Its stack designalso makes manufacturing [music] HBMchips significantly more complex.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 25, "start": 192.239, "end": 198.4, "text": ">> All that complexity just basically meansthat that they [music] um they're muchmore expensive to manufacture and", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 26, "start": 198.4, "end": 207.12, "text": "actually they take a lot more kind ofmanufacturing capacity.>> These HBM chips are the backbone of AIdata centers and demand for them is", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 27, "start": 207.12, "end": 215.2, "text": "through the roof. So if HBM is whatpowers AI, why is there a shortage ofthe other two types? It all comes down", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 28, "start": 215.2, "end": 224.56, "text": "to just three companies. Micron,Samsung, and SKHX.Together, they produce more than 60% ofthe world's NAND [music]", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 29, "start": 224.56, "end": 231.872, "text": "and nearly 90% of its DRAM. All threecompanies have shifted at least some oftheir production capacity to building", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 30, "start": 231.872, "end": 239.36, "text": "[music] HBM microchips. And the stockprices for all three companies jumpedmassively between June 2025 and June", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 31, "start": 239.36, "end": 245.92, "text": "2026.>> If you're a memory chip company,obviously you're going to go to the bestcustomers, and right now those are the", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 32, "start": 245.92, "end": 254.239, "text": "AI companies.>> That means less capacity to produce theother kinds of chips. This shift is nosurprise when you realize how central AI", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 33, "start": 254.239, "end": 260.959, "text": "has become to the US economy.>> Largest capital spending booms we'vever seen.>> Artificial intelligence is transforming", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 34, "start": 260.959, "end": 272.16, "text": "the economy right before our eyes. 80%of stock gains this year came from AIcompanies.>> Altogether, tech giants Google,", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 35, "start": 272.16, "end": 281.68, "text": "Microsoft, Meta, and Amazon [music] havespent more than $1 trillion on expandingAI since 2023.As of August 2026, [music]", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 36, "start": 281.68, "end": 291.28, "text": "there are 2,228new data centers in planning orconstruction stages across the US. Withless DRAM and NAND available, prices are", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 37, "start": 291.28, "end": 301.68, "text": "soaring. Thosehigher component costs land onelectronics companies, but instead ofcompletely absorbing the extra expense,", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 38, "start": 301.68, "end": 307.68, "text": "they're passing the bill onto customers.For instance, in [music] June, Xboxannounced it would raise the price of", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 39, "start": 307.68, "end": 320.8, "text": "its $512 GB Series S gaming console from$400 to [music] $500 and the 1 TBTEversion from $450 to $600. It alsoannounced it would be discontinuing its", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 40, "start": 320.8, "end": 333.52, "text": "two TBTE console. We went to a gamingtournament at OSNYC to see how gamersare taking the news.>> All right. All right.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 41, "start": 333.52, "end": 339.759, "text": ">> You know, I was thinking about buying aXbox Series S and back then it was itwas nice and affordable. It was around", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 42, "start": 339.759, "end": 348.8, "text": "like $300 because of what's going on.It's up to $600. It's just out out of mybudget. The vast history of gaming is a", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 43, "start": 348.8, "end": 356.08, "text": "great story. I just hope that that storydoesn't have a bad ending coming soonwith uh with all the AI muck and penza.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 44, "start": 356.08, "end": 365.36, "text": ">> And it's not just Xbox PC gaming gear isgetting hit, too.>> I was expecting to go buy a Steam Deck,but because of the AI bubble and what", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 45, "start": 365.36, "end": 371.199, "text": "he storage is, it's completely soldout. They finally stock, but theyincreased the prices just to match the", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 46, "start": 371.199, "end": 381.12, "text": "the current market. Xbox CEO AshaChararma has already said that thegaming industry is pricing out someconsumers. Price hikes like this are", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 47, "start": 381.12, "end": 390.56, "text": "xacerbating it.>> I may have to play gaming and startwatching sports.>> Frustration over Xbox's plans tocontinue raising prices into 2027 is", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 48, "start": 390.56, "end": 400.479, "text": "omething gaming YouTuber Luke Stevenshas seen firsthand.>> Who among you is buying that [music]for, let's say, $9.99? We're going to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 49, "start": 400.479, "end": 409.28, "text": "let this scroll and see where you're at.Jesus, I see a good number of notes.[laughter]>> While Xbox [music] has not announced the", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 50, "start": 409.28, "end": 416.0, "text": "price of its next generation console,the company warned that console memoryand storage costs are expected to double", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 51, "start": 416.0, "end": 424.08, "text": "again by the fall of 2027. Theannouncement isn't surprising, but it itsure is disappointing. You know, we have", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 52, "start": 424.08, "end": 431.84, "text": "a 6-year-old console that is for the toptier variant, you know, approaching$1,000.So, can you only imagine what the new", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 53, "start": 431.84, "end": 433.36, "text": "one is going to cost? [laughter] You", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 54, "start": 433.36, "end": 440.08, "text": "know, like that's it's created a feelingof dread among a lot of the gaming[music] community where normally there's", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 55, "start": 440.08, "end": 446.24, "text": "excitement right around this time.>> Luke says these pricing trends areslowly changing the landscape of gaming.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 56, "start": 446.24, "end": 451.039, "text": ">> I think they're going to start tobasically sell consoles like they sellcell phones where it's just yeah, you", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 57, "start": 451.039, "end": 456.639, "text": "get on a 2-year, threeyear plan orwhatever and that's just how it isbecause it is just getting to a pointwhere it's just not affordable for", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 58, "start": 456.639, "end": 463.36, "text": "people to own it outright. There's justnot that many people that can afford,especially right now, a 12 to $1,500", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 59, "start": 463.36, "end": 469.759, "text": "console. When all is said and done, itjust doesn't work. Like, the math isn'there. The thing is, Microsoft, Xbox's", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 60, "start": 469.759, "end": 475.919, "text": "parent company, is one of the companiesinvesting heavily in data centerexpansion. Business Insider mapped out", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 61, "start": 475.919, "end": 486.16, "text": "1,416built or approved data centers as ofJune 2026. 53 of those were built byMicrosoft, and many of them are massive.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 62, "start": 486.16, "end": 493.599, "text": "Of the companies we tracked, only Amazonsurpassed Microsoft in large-scale datacenter construction. Microsoft expects", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 63, "start": 493.599, "end": 504.8, "text": "to spend roughly $175 billion on AI in2026 alone. So, if Microsoft is buyingenough HBM chips to run its datacenters, why won't it do the same for", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 64, "start": 504.8, "end": 507.36, "text": "its gaming division? The issue is there", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 65, "start": 507.36, "end": 512.64, "text": "simply aren't enough chips to go around.Even the most powerful companies arestruggling to get their hands on the", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 66, "start": 512.64, "end": 521.12, "text": "shrinking supply. Apple is one of if nothe largest purchaser of a lot of theselike memory modules and stuff at least", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 67, "start": 521.12, "end": 527.76, "text": "for consumerf facing hardware uh in[music] the world and so for them to befacing the same difficulties with", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 68, "start": 527.76, "end": 535.6, "text": "acquiring the pieces that they need tobuild the their electronics is prettyremarkable. Apple has kind of lost", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 69, "start": 535.6, "end": 543.12, "text": "control of the computer supply chain alittle bit lately because it doesn'thave a lot of AI data centers. Rising", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 70, "start": 543.12, "end": 549.68, "text": "memory prices are hitting the people whorely on storage to make a living.Atlanta commercial photographer Alan", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 71, "start": 549.68, "end": 557.68, "text": "Kulie says he typically spends anywherefrom $15,000 to $20,000 on storagedevices each year. The biggest price", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 72, "start": 557.68, "end": 565.44, "text": "hikes he's noticed are for solidstatedrives. These are more traditional SSDsor solid state drives that I use. This", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 73, "start": 565.44, "end": 573.92, "text": "a 4 TB SanDisk. [music] This is a twoTB SAM disc. These are Samsung's.They're T7s. These T5 drives, these are", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 74, "start": 573.92, "end": 580.399, "text": "like 1 TBTE. Just these seven drivesalone is over $600 or $7,000. When Ibought them, they were probably about", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 75, "start": 580.399, "end": 590.0, "text": "$1,500 all in. This is a 500 gig CFastcard. I use this when I'm doing um stuffwith my cinema cameras. My photo cameras", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 76, "start": 590.0, "end": 596.959, "text": "will use CFast or CF Express cards,[music] and they'll also use SD cards.All in, everything you see here is about", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 77, "start": 596.959, "end": 606.08, "text": "$7,500. If we were to go up to 200%,which is something I've definitely seen,we're talking about what is that 21,000", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 78, "start": 606.08, "end": 614.079, "text": "$22,000 for the same stuff that was just$7,000. [music]That's I could not have bought half ofthis stuff if the numbers were that", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 79, "start": 614.079, "end": 620.24, "text": "high.>> We had Allan compare the prices he paidfor storage [music] in the past withwhat they'd cost him today.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 80, "start": 620.24, "end": 633.279, "text": ">> So, I'm looking at the blue 4 terbteSamsung T7.It is currently $889.Um, and that's a sale, but because it's", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 81, "start": 633.279, "end": 649.36, "text": "actually $1,144.99.When I go to my receipt for thesedrives, I bought it at the time for$285.That $285 drive is now well over $1,000.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 82, "start": 649.36, "end": 661.36, "text": "I purchased this drive in April on April19th of 2025.April 19th of 2025 till July of 2026,we're talking about it has gone up over", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 83, "start": 661.36, "end": 670.8, "text": "200%.Crazy. But when I scroll through hereand I see the prices of SSDs today, andthe idea that they expect me to use my", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 84, "start": 670.8, "end": 680.16, "text": "hard-earned money to pay this much forsomething that was whatever 200% cheaperjust last year alone, they are bugging.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 85, "start": 680.16, "end": 687.44, "text": "like Apple and Xbox, photographers couldsoon feel forced to [music] pass risingstorage costs on to their clients.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 86, "start": 687.44, "end": 695.44, "text": ">> I am in this actual moment blown away.These prices aren't tethered to newtechnology. It's not that they went up", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 87, "start": 695.44, "end": 704.72, "text": "because they become so exponentiallybetter than they were.>> Allen's story is identical to the onesJeff Hirs has been hearing from his", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 88, "start": 704.72, "end": 714.88, "text": "customers, too.>> They say, \"Well, [music] I don'tunderstand this. Last year this was onlya $50 memory card. It now it's over", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 89, "start": 714.88, "end": 717.269, "text": "$100.Why?", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 90, "start": 717.279, "end": 723.76, "text": ">> Jeff is the president of Photo Care, acamera store in New York established in1968. [music] He says prices for memory", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 91, "start": 723.76, "end": 731.279, "text": "cards and solid state drives havedoubled since the beginning of 2026.>> Solid state drive became a standard and", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 92, "start": 731.279, "end": 742.8, "text": "it's actually [music] small now, 1 TBTE.So this right now is over $300 and 8months ago before the turn of the year", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 93, "start": 742.8, "end": 753.2, "text": "it was maybe [music] $170. One customerthat was shooting a movie bought cardsthat were effectively say $500 a card", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 94, "start": 753.2, "end": 760.88, "text": "last year or the last time [music] thatperson bought more cards uh they were$1,300 a card. He says the high prices", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 95, "start": 760.88, "end": 768.978, "text": "for memory have put financial pressureon his clients who depend on them forwork.>> It's just a tough spot right now for", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 96, "start": 768.978, "end": 779.92, "text": "[music] people that are using electronicameras in making their their living.We've seen [music]our media sales numbers as far as", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 97, "start": 779.92, "end": 789.36, "text": "quantity decrease by30%.>> Jeff worries recent price hikes couldhave broader implications for theindustry. I don't want to say [music]", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 98, "start": 789.36, "end": 802.24, "text": "it's putting electronic media out ofreach of some people, but it is comingclose to that.So, is there any relief in sight?", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 99, "start": 802.24, "end": 809.76, "text": "Possibly. One solution is to open morechip factories known as fabs to increasesupply. But opening a fab is not cheap.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 100, "start": 809.76, "end": 817.04, "text": "The cost of building one is estimatedbetween $15 billion and$20 billion. Themajority of that cost comes from the", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 101, "start": 817.04, "end": 825.44, "text": "xpensive machines needed to make thesechips. Just one cost up to $400 million,and a single facility needs rows and", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 102, "start": 825.44, "end": 832.72, "text": "rows of them. Keeping FABs clean is alsovery expensive. Many requirespecifically designed clean rooms to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 103, "start": 832.72, "end": 840.0, "text": "protect sensitive silicon wafers fromdust and other airborne particles thatcould cause microscopic defects. And", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 104, "start": 840.0, "end": 848.88, "text": "even if the cost of construction weren'tan issue, it would still take 3 to 5years to build a single fab.>> You can't just flick a switch and say we", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 105, "start": 848.88, "end": 856.24, "text": "'re going to double the amount ofmemory chip production [music] in 6months.>> SK Heinix told Business Insider that", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 106, "start": 856.24, "end": 861.68, "text": "it's fasttracking the construction ofFABS with the Yongen semiconductorcluster, which was scheduled for", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 107, "start": 861.68, "end": 869.76, "text": "completion in 2045, but has been movedup to 2023. Some critics believe thememory shortage may be manufactured. In", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 108, "start": 869.76, "end": 878.24, "text": "June 2026, 17 plaintiffs filed a classaction antirust [music] lawsuit allegingthat Micron, Samsung, and SKH Highix", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 109, "start": 878.24, "end": 884.639, "text": "worked together to limit memory supplyand drive up prices. This is not thefirst time these companies have been in", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 110, "start": 884.639, "end": 892.0, "text": "hot water. In the early 2000s, Samsungand Heinix pleaded guilty to conspiring[music] to fix jam prices. Micron", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 111, "start": 892.0, "end": 898.16, "text": "admitted to participating in the sameconspiracy, but escaped prosecution bycooperating with federal investigators.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 112, "start": 898.16, "end": 905.76, "text": ">> When that type of demand hits anindustry like this, there's a lot lessleeway and there's really a lot more", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 113, "start": 905.76, "end": 913.08, "text": "control that these three or fourcompanies exert over the industry.Sometimes that's okay, but sometimesit's really really damaging and it'll be", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 114, "start": 913.08, "end": 919.04, "text": "[music] up to the people involved inthis lawsuit to to prove those damagesbeyond beyond a reasonable doubt.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 115, "start": 919.04, "end": 926.0, "text": "Another solution would be slowing thexpansion of AI data centers to helpchip production catch up. And that push", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 116, "start": 926.0, "end": 932.959, "text": "is growing. Data centers have facedgrowing backlash from communities acrossthe US for their long-term effects on", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 117, "start": 932.959, "end": 940.639, "text": "both the environment and the economy. IfAI data center construction slows byhalf or it takes twice as long to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 118, "start": 940.639, "end": 946.399, "text": "develop these things or or if fewer ofthem [music] actually get done oractually get approved, then you could", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 119, "start": 946.399, "end": 956.72, "text": "really have a change in in AIdemand for memory chips for sure.>> On July 18th, 2026,142 protests opposing data center", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 120, "start": 956.72, "end": 964.16, "text": "buildouts took place across 42 states.So far, dozens of local governmentsacross the US have [music] moved to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 121, "start": 964.16, "end": 972.32, "text": "pause data center construction. In July2026, New York became the [music] firstate to enact a one-year moratorum.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 122, "start": 972.32, "end": 980.72, "text": ">> This pause will remain in place for upto one year, while New York establishesthe strongest possible framework to", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 123, "start": 980.72, "end": 988.24, "text": "protect our communities. If politics andthings like permitting and things likethat, if those types of issues slow down", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 124, "start": 988.24, "end": 995.68, "text": "AI development, you could certainly seea knock-on effect on demand for memorychips and storage. The only question", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 125, "start": 995.68, "end": 1003.44, "text": "left is whether in the age of AI, memory[music] prices will ever go down. Ifwhat's past is prologue, Alistair says", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 126, "start": 1003.44, "end": 1011.759, "text": "history might give us a clue.>> Go back two or three decades, the memorychip industry was hugely cyclical. So", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 127, "start": 1011.759, "end": 1018.16, "text": "there'd be these huge boom periods wheredemand would go up and there wasn'tenough supply and prices would really", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 128, "start": 1018.16, "end": 1025.12, "text": "rise and [music] memory chip makerswould make massive amounts of money andthen demand would slow down a bit.", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 129, "start": 1025.12, "end": 1031.439, "text": "Production would increase and there'd beover supply and then prices would crashback down. That type of long-term", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 130, "start": 1031.439, "end": 1038.16, "text": "history of boom and bust cycles is veryhard to break. We might just makeway too many memory chips in two years", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 131, "start": 1038.16, "end": 1044.799, "text": "time and then prices will come crashingdown again. I've been doing this for 20or 30 years now and and a lot of things", "source": "video_source_subtitle", "authority": "video_source_subtitle" }, { "id": 132, "start": 1044.799, "end": 1050.32, "text": "that people thought would last foreverhaven't lasted forever. 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