this post was submitted on 28 Jun 2026
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It is certainly explainable.
OpenAI was given half a trillion dollars to 'develop' AI with. It's called project Stargate.
The first thing they did with it was wave the check around and promise to buy 40% of all wafers produced globally. Wafers are the precursors to memory chips. OpenAI doesn't need wafers; it needs working memory (either ram, Vram or SSD). They don't manufacture anything so they don't do anything with the wafers. They just don't want anyone else to have them because the competition can use the memory.
But capitalism does what it does, which is to chase profit, and ever wafer manufacturer was happy to get a piece of that half trillion dollars. It's no surprise that the first to abandon memory production were Micron (the company behind Crucial, which is the finished product division for consumers) and Sony, also producers of wafers.
There was never any guarantee written down anywhere that gpu prices would remain stable. That would actually be going against the laws of capitalism. If it hadn't been AI, it was going to be something else upsetting this balance.