Woofun AI reports that Morgan Stanley analyst Joseph Moore stated memory supply constraints show no signs of easing following discussions with data center procurement professionals. DRAM prices are projected to increase by at least 25% quarter-over-quarter in Q3, exceeding previous internal and third-party estimates.

Moore indicated that the shortage could intensify through 2028 as AI demand absorbs significant DRAM production capacity, restricting supply to PCs and smartphones. The firm views this scarcity not only as a challenge for AI memory requirements but also as a critical bottleneck limiting AI infrastructure expansion.