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AXIOS (Courtenay Brown) - The AI price shock is here: Apple, Microsoft hike prices

People spend a lot of time on their devices. The AI boom means they will also be spending more for them. Why it matters: The enormous sums of money going into the AI race are driving up costs for resources and components throughout the economy. - That's now becoming increasingly apparent to ordinary Americans who might have thought that AI's impact would be primarily on their jobs. Driving the news: Apple provided the clearest evidence yet Thursday, raising prices by as much as 25% on MacBook and iPad models — and blaming soaring memory chip costs due to AI demand. - The same memory squeeze is now hitting gaming consoles. Also on Thursday, Microsoft announced price increases of as much as $150 on Xbox consoles — which comes after…

People spend a lot of time on their devices. The AI boom means they will also be spending more for them. Why it matters: The enormous sums of money going into the AI race are driving up costs for resources and components throughout the economy. - That's now becoming increasingly apparent to ordinary Americans who might have thought that AI's impact would be primarily on their jobs. Driving the news: Apple provided the clearest evidence yet Thursday, raising prices by as much as 25% on MacBook and iPad models — and blaming soaring memory chip costs due to AI demand. - The same memory squeeze is now hitting gaming consoles. Also on Thursday, Microsoft announced price increases of as much as $150 on Xbox consoles — which comes after…Open

THENATIONALPULSE (Pulse Wires) - Apple Announces Huge Price Hikes, Citing Soaring Chip Costs.

Apple has announced price increases on several products, citing rising memory chip costs and supply chain challenges, with industry experts predicting similar moves by other brands.

PULSE POINTS WHAT HAPPENED: Apple has raised prices on several products, including the MacBook Pro with one terabyte of storage, which increased from $1,699 to $1,999 in the U.S., and the entry-level Neo laptop in the United Kingdom, which rose from £599 to £699 (~$790 to ~$920). The company attributed the increases to rising costs of key components, particularly memory chips. DETAIL: Industry analysts said the move highlights how the artificial intelligence (AI) boom is affecting consumer electronics, with even Apple unable to avoid rising component costs. Chipmaker TSMC has also warned that inflation and higher production expenses could lead to further increases across the sector. Analysts expect other PC and tablet manufacturers to…Open