ROCHESTER, N.Y. — Artificial intelligence has inspired the creation of a new word in the American lexicon: chipflation.
Because chip-makers are focusing on the high-profit world of AI data centers, they’re making fewer chips for the electronics we all need. So we’re seeing huge price hikes.
News10NBC reporter Deanna Dewberry investigated ways to save.
The cost of digital tools
Six-year-old Deavon loves a local learning lab. His little fingers keyboard with far more comfort and confidence than many adults.
That’s because digital tools like computers, Chromebooks, and tablets are considered essential learning tools. Tools that now cost far more than you may expect.
“People usually have saved around $800 for a laptop, and for a very long time that was a reasonable amount,” Brian Westover said.
Westover is a product reviewer at PCMag. That’s no longer the case, he said. Get ready for sticker shock.
“Median price has actually climbed up to $1,600, which is double what people have saved up,” Westover said.
For example, Apple has increased the prices across 14 product lines. And it’s not alone.
What is the culprit of the price increase?
Experts say giant AI data centers are to blame for a huge shortage in memory chips.
“There are only three major companies that make these chips, and so they’ve shifted a lot of their resources to this high-performance AI memory, which leaves less manufacturing capacity for the consumer stuff,” Westover said.
And those manufacturers have warned the shortage could last until 2030.
“I don’t even think we’ve hit peak laptop prices yet. I think they’re going to continue to go up for a while,” Westover said.
Ways to save
One option parents can look for is refurbished tech. While you may sacrifice on cosmetic scratches and battery health, you can score big savings.
“I recommend people shop either the major manufacturers, get your refurbished product straight from them,” Westover said.
Or a major retailer like Best Buy.
“Look for a place that offers things like a 90-day return policy or an extended warranty,” Westover said.
Consumer Alert: ‘Chipflation’ drives up laptop and electronics prices — here’s how to save money on tech WHEC.com.
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