Prices are going to have an effect here. I have a 76TB backup drive of 8 drives. A few months ago one of my 10TB drives failed and I replaced it with a 12 TB WD gold for 269CHF. I was thinking of building a new backup drive (for fun) and so I priced the same drive and now it's 409CHF.

It's not tariffs (I'm in Switzerland). It's 100% the buildout of data centers for AI.