Microsoft and Apple are raising prices for Xbox consoles, Macs and iPads as the AI boom sends memory chip costs soaring, with prices increasing by up to $300 (about €265) and as much as 25%, depending on the product.

Just hours after Apple increased its hardware prices across the board, Microsoft is doing the same with its Xbox consoles. For the third time.

The increase is the latest price hike after Xbox consoles prices rose $20 to $70 last year.

iPhone maker blamed cost rises on memory chip shortages caused by AI boom