Among the figures disclosed in the period, one recurs in different contexts: memory and storage prices rose enough to appear as a separate line in the budgets of the largest infrastructure buyers.
In Microsoft's case, $25 billion of the year's projected capex increase comes from that rise alone. It's money that buys no additional capacity, only pays more for the same thing.
The cause is known and has been documented for months: demand for high-bandwidth memory for AI competes with production destined for personal computers and phones, and new fabrication capacity takes years.
The effect runs down the entire chain. Laptop manufacturers began accepting alternative suppliers to keep lines moving, and phone silicon sat waiting for packaging.
For anyone buying equipment at any scale, the practical reading is that a budget based on last year's prices doesn't close, and the gap won't be negotiated away with a supplier.