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Artificial intelligence is driving up the cost of the chips inside your iPhone. In an exclusive interview , Apple CEO Tim Cook warned that price increases are “unavoidable.” WSJ’s Rolfe Winkler breaks down how AI companies’ race for memory and storage has sent chip prices soaring , forcing Apple to choose between shrinking profits and charging customers more. Ryan Knutson hosts. Further Listening: - Tim Cook Built the Apple Empire. What’s Next for His Successor? - The Nvidia CEO’s Quest to Sell Chips in China Learn more about your ad choices. Visit megaphone.fm/adchoices