alt Hacker NewsThey are increasing production as fast as they can (which is not fast at all, it's more like slowly steering a huge ship towards the correct direction) because current prices are too high even when accounting for the historical oligopoly dynamics. They can easily increase their collective profits by making more.
As far as I know, they are merely shifting capacities from the customer market towards the data center market with minimal retooling. I am unaware of any of the three actively investing in new capacity. Some modest increase are planned but nowhere near what you would expect given current demand.