Intel CEO now expects chip shortage to last until 2024

Intel CEO Pat Gelsinger predicts that the chip shortage, which has negatively impacted many industries including the gaming industry, will remain a problem through 2024.

In a recent interview with CNBC, Gelsinger told the outlet that the chip shortage could last two years due to pressure on key manufacturing tools. “[W]We believe the global semiconductor shortage will now drift toward 2024,” Gelsinger told CNBC.

Gelsinger has previously predicted several times that he expects the chip shortage to continue into 2023, with the first mention of it coming last July during the company’s second-quarter earnings call. In October 2021, he reiterated that the supply chain issues could extend into 2023.

Although chip shortages remain a problem in various industries, Gelsinger noted how Intel’s own chips are doing very well and are on track to meet the demand for their own chips, as he said. at the company meeting. Call for Q1 2022 results A few days ago.

Since 2020, the shortage of chips has remained an ongoing problem. The most prominent examples of supply chain issues include the sale of the latest game consoles, the PlayStation 5 and Xbox Series X, as well as new desktop GPUs from AMD and Nvidia. Although in recent weeks it seems that the supply of Xbox Series X consoles, at the very least, is improving and more regularly stocked at various retailers.

Intel has also been one of the few companies to invest exponentially in new production lines, although these new manufacturing sites are not expected to open for another 2-3 years. Intel’s Most Outstanding Location announced in January was in Ohio, which will house the “largest silicon manufacturing site on the planet.” At the same time, other new fabs currently under construction are located in Arizona and Germany.

Taylor is the Associate Technical Writer at IGN. You can follow her on Twitter @TayNixster.