Micron CEO: RAM shortages to persist until 2028, driving console price rises

Playing video games is becoming more expensive as AI-driven memory shortages combine with inflation and US tariffs to push hardware prices up. Micron CEO Sanjay Mehrotra says those tight conditions are unlikely to ease until 2028 at the earliest. This year alone, Nintendo Switch 2 prices rose by $50, a PlayStation price hike put the premium PS5 Pro at $900, Valve raised entry to the Steam Machine lineup to $1,049, and Microsoft increased Xbox prices by $100–$150 depending on the model.

Building a PC isn’t a cheaper alternative, since RAM remains especially costly. "We expect tight conditions to persist beyond calendar 2027 as a result of AI-driven demand across all segments coupled with structural supply constraints," Mehrotra told investors in the company's Q3 earnings report.

"Even as we expect industry supply to improve gradually in 2028, we currently do not have line of sight as to when memory supply will be able to catch up with increasing demand," he added.

United States

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