The crunch has been nicknamed "RAMaggedon" after the components called RAM, or "random-access memory". It is caused as profit-hungry chipmakers pivot to producing high-bandwidth memory (HBM) -- a more advanced type of computer memory in huge demand to help train and run AI tools. Ken Tam, manager of Videocom Computer, which specialises in custom-built PCs, said business has halved since price rises began in September. "If they need it, they will buy it," but otherwise they will wait, or "lower their standards" and buy a less high-performing memory chip, he said. The AI boom has brought humungous profits and share price jumps to the world's top three memory chip makers: South Korea's Samsung Electronics and SK hynix, along with US giant Micron.