HONG KONG, June 10 -- The world's largest PC maker lost roughly a tenth of its market value in a single session on Wednesday, and the reason fits in a slot the width of a finger: the chips that remember things have become too expensive to ignore.

Lenovo's Hong Kong-listed shares slid nearly 10 percent after reports that the company is raising prices across its lineup to offset surging memory costs, Reuters reported. The selloff landed on a stock that had been one of the AI hardware trade's quieter winners, and it landed fast, the kind of single-session repricing that happens when a known problem stops being deniable.

The problem has been building in plain sight. Memory prices have risen severalfold over the past year as AI data centers ...