FTC Chair Andrew Ferguson Flags Upstream AI Chip Risks, Cites Personal RAM Price Shock and Antitrust Tools

FTC Chairman Andrew Ferguson highlighted competitive risks in the semiconductor supply chain during an August 19, 2026, fireside chat with CNBC’s Brian Sullivan at the Technology Policy Institute’s Aspen Forum. He noted that while competition among AI model developers appears robust, bottlenecks in chips and related inputs could drive up costs for consumers across electronics. Ferguson shared a personal anecdote about delaying a PC build due to rapidly rising RAM prices over six months, calling the situation 'crazy' and expressing concern that consumers should not face inflated chip costs in phones and other devices.

He emphasized applying standard antitrust enforcement to the supply chain, warning against illegal monopolies or consolidation that jacks up prices. On a hypothetical Nvidia-ARM merger, Ferguson stated regulators would 'have to take a very careful look,' signaling potential scrutiny. This aligns with broader reports of 'Ramageddon,' where RAM prices more than doubled amid AI data center demand, contributing to double-digit price hikes in tablets, consoles, and other hardware from companies like Apple and Microsoft.

Related developments include class-action allegations against major DRAM producers (Samsung, SK Hynix, Micron) over supply restrictions, and ongoing industry signals of sustained memory shortages tied to AI buildouts. Ferguson's comments underscore a focus on upstream inputs rather than predictive regulation of AI itself.