Prices rising is inflation.

Any price increase can be considered inflationary. They usually don’t come down by all that much

It's inflationary when the effect is big enough to have a meaningful impact on the price of the average good.

It's inflationary because this demand is backed by Monopoly money. OpenAI is promising to buy half the global supply of RAM with money they don't actually have, pricing out people who would like to make purchases with real money and not $1 trillion in debt.