mo·nop·so·ny /məˈnäpsənē/ a market situation in which there is only one buyer.

It seems like the issue we're having is that we are buyers who are competing against OpenAI, who is another buyer. There isn't only 1 buyer or 1 seller of RAM.

Like monopolies, monopsony power exists on a spectrum. For example, Walmart exercises extreme monopsony power over suppliers, despite not being the only retailer in town.