Intel CEO Expects Chip Shortage to Last until 2024

We all know the technology world is facing a chip shortage which is not going to end soon. Intel CEO Pat Gelsinger expects that the chip shortage will last until 2024. Although, the companies are doing their best to overcome this problem. but it seems like the global chip shortage will continue to squeeze the electronic industry with limited supplies.

Intel CEO Expects Chip Shortage to Last until 2024

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“That’s part of the reason that we believe the overall semiconductor shortage will now drift into 2024, from our earlier estimates in 2023, just because the shortages have now hit equipment and some of those factory ramps will be more challenged,” the CEO said.

Like other chipmakers, Intel is working to ease the problem, including heavy investment in facilities in the U.S. and Europe.

“We’ve really invested in those equipment relationships, but that will be tempering the build-out capacity for us and everybody else, but we believe we’re positioned better than the rest of the industry,” Gelsinger insisted.

Other than Gelsinger’s prediction, other companies have also offered observations that the shortages will last for quite a while. Last year in November, Foxconn said that the shortages could last until the second half of 2022. Similarly, in January, the White House concluded that the shortages could last until the second half of 2022.

However, it is not sure at that time exactly how long this shortage of chips will continue. But the electronic industry is trying to overcome this situation as soon as possible.

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