Micron, one of the largest global manufacturers of memory, expects the ongoing RAM shortage to last through 2027. That's according to Micron CEO Sanjay Mehrotra, who said in the company's Q3 2026 earnings report today that the unprecedented demand facing the semiconductor industry isn't letting up any time soon.

"We expect tight conditions to persist beyond calendar 2027 as a result of AI-driven demand across all segments coupled with structural supply constraints," Mehrotra said.

Semiconductors, the chips used to manufacture computer hardware like RAM, the VRAM in graphics cards, and SSDs, have increased significantly in price over the last few years, primarily due to demand for their use in AI data centers. Micron itself exited the consumer market late last year, ending support for its consumer-facing brand Crucial, which made several of our favorite SSDs and RAM kits, in favor of its booming data center-focused business.

As a result, many components and systems used to build gaming hardware – ranging from RAM sticks alone all the way up to full systems like the PS5, Xbox Series X, and Steam Machine – have also ballooned in price. The Steam Machine in particular was originally supposed to be priced at around $750, but instead launched at $1,050 due to the cost of the underlying hardware.

Mehrotra's comments unfortunately mean the RAMpocalypse isn't ending anytime soon, and we can expect these elevated hardware prices to stick around.

"Even as we expect industry supply to improve gradually in 2028, we currently do not have line of sight as to when memory supply will be able to catch up with increasing demand," Mehrotra said.

While only time will tell, the way things are going certainly doesn't bode well for the inevitable PlayStation 6 or Xbox Project Helix launching at an affordable price point.

Bo Moore is IGN's Senior Manager of Tech. You can find him online @usebomswisely.