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I’d bet that about half the price is just the RAM soldered onto the thing
It’s gonna be a premium for the folding feature or some other feature on that particular model — they list two other models that are considerably less expensive and have the same amount of RAM.
Can confirm recently got a box of 440 unsoldered Micron DDR5 memory ICs at work.
It was $140k. Not DIMMS but the chips soldered to the DIMM.