Prices for memory chips climbed by almost 20% during the third quarter of 2026 compared with the preceding three months, according to Bernstein, which expects supply shortages to continue affecting the market into 2027.
The research firm’s assessment of contract pricing showed that conventional DRAM and NAND memory products both recorded increases during the July-to-September period. The quarterly advance was smaller than that recorded in the second quarter but remained above historical pricing trends.
Bernstein identified demand from artificial intelligence applications as a principal factor behind the supply imbalance. The firm said AI-related requirements continue to exceed available production, contributing to persistent shortages across the memory market.
Looking ahead, Bernstein anticipates another increase in memory contract prices during the final quarter of 2026. It also expects supply constraints to remain in place during 2027, potentially extending the period of rising prices.
Despite that outlook, the firm expects the potential magnitude of future price increases to become more limited. Price ceilings established under long-term agreements could restrict adjustments, while the growing cost of memory components may constrain spending across both AI and traditional computing applications.
Bernstein also highlighted the effects of higher memory prices on customers outside the artificial intelligence market, where component costs are increasing alongside AI-related demand.
The firm’s projections point to continued supply constraints and further pricing adjustments, although contractual limits and customer cost pressures are expected to affect the extent of future increases.
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