A surge in AI-driven demand for data centers has forced consumer electronics companies into a fierce competition for dwindling supplies.

Apple plans to raise prices on iPhones, MacBooks, and other devices as CEO Tim Cook warns of surging memory chip costs driven by AI infrastructure demand.

Tim Cook, who will hand over the reins to John Ternus in September, did not disclose when or how much prices might rise, nor which products could be impacted.

Apple CEO Tim Cook warns of rising prices for iPhones, MacBooks, and iPads due to a global memory chip shortage.