Strong demand for AI infrastructure is putting pressure on global memory supply, and the effect could eventually be felt by people buying iPhones, Macs and other consumer devices. Buying a new iPhone has never been cheap, but the next generation of Pro models could come with an even bigger price tag.

If you were hoping the memory chip situation would settle down soon, the latest warning from SK Group suggests that may not happen anytime soon. According to SK Group chairman Chey Tae-won, the supply crunch affecting the memory industry could continue all the way until 2030. His main point was simple: demand is rising faster than the industry can realistically expand wafer supply, and fixing that imbalance is not something that can be done in a year or two.