A kilogram of computer memory today is worth, on the market, about as much as 620 grams of pure gold. That comparison alone captures the scale of the increases under way in the semiconductor market, where DRAM memory prices are under heavy pressure from demand tied to the spread of artificial intelligence.

Between August 1 and August 20, 2026, the average export price of DRAM from South Korea reached $92,183 per kilogram, according to data from the Korea Trade Statistics Promotion Institute (TRASS). That is a 401% increase over the past year, and roughly 12.5 times higher than in January 2023. The pressure from these increases is also spilling over into the computer, smartphone, and broader consumer-electronics markets.

Why has memory become so valuable?

DRAM is the technology behind the memory that electronic devices use to temporarily hold the information a processor needs to run programs and operations.

Demand for memory has changed radically in recent years, driven above all by the growth of artificial intelligence. AI models are trained and run inside massive data centers, where thousands of processors work simultaneously. Powering these systems requires not just enormous computing power, but also huge amounts of very high-speed memory.

Among the technologies developed to meet this need is HBM (High Bandwidth Memory), a specialized type of DRAM designed to transfer huge amounts of data quickly. HBM is used mainly alongside the GPUs deployed for AI, and it has become one of the most important and profitable segments of the memory market.

Growing demand for HBM is, however, reshaping the balance of the entire memory market. HBM is produced by the same major manufacturers that make DRAM for servers, PCs, and smartphones. An increasing share of production capacity is being redirected toward the components AI data centers need, while supply for other devices struggles to keep pace.

Why is the AI race driving up the price of RAM?

The global memory market is dominated by Samsung, SK hynix, and Micron, which are ramping up investment to meet demand from the artificial intelligence sector.

The problem is that producing new chips takes time and very large investment. Factory capacity cannot be expanded quickly enough to track every shift in demand, and at the same time manufacturers have to decide how to allocate the capacity they do have across different types of memory.

Priority has gone to HBM, which commands a higher price and has become indispensable for AI systems. As a result, the market for conventional DRAM has tightened and seen a substantial rise in prices. According to SK hynix, the imbalance between supply and demand could persist for several more years yet — the company has pointed to 2030 as a possible horizon for a return to more normal conditions. Much will depend on how fast investment in artificial intelligence keeps growing.

RAM is getting more expensive: what does it mean for PCs and smartphones?

The rise in memory prices is not just a problem for someone buying a RAM module to upgrade their computer. Memory chips are used in the production of PCs, laptops, smartphones, and servers, so a price increase can raise the costs manufacturers themselves have to absorb.

In the computer market, one sign of the situation is the choice to fall back on older memory generations. MSI, for instance, has released the Katana 15 HX C14W gaming laptop with DDR4 memory, a standard that predates the newer DDR5. A configuration like this can help contain costs at a time when prices for the newest memory are rising sharply.

The same pressure can affect smartphones. In recent years, manufacturers have increased the amount of RAM installed in devices, partly to support increasingly advanced features and AI-based applications. If chip prices stay elevated, that greater memory requirement could translate into higher production costs for new models.

Editor’s note

This article was originally published in Italian on money.it by Emanuela Ceccarelli on September 11, 2026 as «La memoria dei computer costa quanto l’oro, perché RAM e smartphone stanno diventando più cari». It has been translated and adapted for an international audience by the Money.it International desk.