More specifically, it's OpenAI quietly contracting away 40% of global DRAM capacity, only to build wafers of memory and shove it in a warehouse.

https://www.mooreslawisdead.com/post/sam-altman-s-dirty-dram...

They're not the only player trying to buy more RAM. Every hyperscaler is also growing.

AWS, MS, Oracle, and Google demand is growing ~100% in 2026. Nvidia demand is growing ~50% in 2026. Supply isn't forecast to improve at all until H2 2026 and it's probably ~all spoken for through at least EOY 2026.