The short version is imagine the world has a production capability of X sticks of RAM per day. Up until now it consumed X sticks of RAM and all was good. Suddenly a new player enters the market that requires Y sticks of RAM and is willing to pay a lot more than everyone else, now the total amount of RAM is X-Y (and just to give you an idea of the size of the problem Y is approximately 40% of X). Factories might start working more and try to produce more, and they might increase productivity by Z, but if Z<Y we’re still in a deficit so we have over demand and lack of production. RAM factories are not made overnight, so it takes months if not years to open new ones and bump the amount that’s actually able to be produced.

It will pass, lots of companies are rushing to open more factories, China has started producing RAM too, plus the new player that was buying Y before and signed to do so for months to come is trying to buy less now.