HONG KONG — A global memory chip shortage, nicknamed "RAMaggedon," is driving up prices for laptops, smartphones, and potentially cars, as chipmakers pivot to producing high-bandwidth memory (HBM) for AI tools. Samsung Electronics' chief financial officer said shortages will likely deepen in 2027 and stay tight through 2028. At Hong Kong's Wan Chai Computer Centre, manager Wade Lam of In-Technology Services displays articles to inform customers who "don't know what happened." Ken Tam, manager of Videocom Computer, said business has halved since price rises began in September. Sixteen gigabytes of RAM used to cost HK$300-400 ($40-50) but now costs HK$1,500, creating a "psychological barrier" for customers. Analyst Ellie Wang at TrendForce said memory prices for PCs and smartphones were up around five to six times compared to a year ago. The AI boom has boosted profits for top memory chip makers Samsung Electronics, SK hynix, and Micron. ChangXin Memory Technologies (CXMT), in fourth place, became mainland China's most valuable company on Monday with its market debut in Shanghai. James Zhao of Omdia said CXMT "remains in a follower position regarding leading-edge technologies," but the "current supply-constrained market environment" could bring "late-mover advantages" in conventional RAM and DRAM.