Is it not the case that they're raising price in response to demand? Ie. if they kept the price low, they'd be perpetually out of supply?

No, they raise price because they can and demand isn’t showing signs of stopping despite increased prices. This won’t affect whether there’s a shortage or not, besides we’re not talking direct to consumer float product, they inked commitments.

If they didn’t have a documented history of running cartel price fixing schemes for LCD/OLED display tech, NAND, and DRAM, I’d maybe agree with you but we have the history. They cry every time about China ‘dumping’ for not going along with the racket.

Can chose to increase production or embrace the scarcity. The later might look delicious on paper. More profit, less effort, less short term risk. All you have to do is ignore the whale in the room.

They are increasing production. Fabs take multiple years to come online. The modern semiconductor industry moves only very slowly and at very great cost.

There is no point in increasing production for a memory standard that will be phased out next year unless you're Chinese.

They're raising prices in response to the same demand it has ever been.

If they kept the price low they could still afford to make RAM.