Intel CEO Now Expects the Chip Shortage To Last Until 2024
Intel CEO Pat Gelsinger is anticipating that the chip shortage, which has been negatively impacting many industries including the games industry, will remain an issue well into 2024.
In a recent interview with CNBC, Gelsinger told the outlet that the chip shortage might drag on for two years due to the strain on key manufacturing tools. "[W]e believe the overall semiconductor shortage will now drift into 2024," Gelsinger told CNBC.
Gelsinger previously predicted several times that he expected the chip shortage to drag into 2023, with the first mention of it coming last July during the company's Q2 earnings call. In October 2021, he reiterated that the supply chain issues could extend into 2023.
Despite the chip shortage remaining an issue across various industries, Gelsinger noted how Intel's own chips are doing very well and are close to meeting the demand for its own chips, as he said during the company's Q1 2022 earnings call a few days ago.
Since 2020, the chip shortage has remained an ongoing issue. Most prominent examples of the supply chain issues include the sale of the latest gaming consoles, the PlayStation 5 and the Xbox Series X, along with new desktop GPUs from AMD and Nvidia. Though in recent weeks, it appears that the supply for Xbox Series X consoles, at the very least, is getting better and more regularly stocked at various retailers.
Intel has also been one of a few companies that has been investing exponentially in new production lines, though these new fab locations are not expected to open for another 2 to 3 years. The most notable location Intel announced back in January was in Ohio, which will be home to the "largest silicon manufacturing location on the planet." At the same time, other new fabs
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