Intel CEO assures that the chip crisis can last until 2024

Pat Gelsinger had previously noted that the chip shortage  could only last until 2023.


Intel , one of the largest semiconductor companies in the world, has signaled that the current chip crisis  may still expand into 2024.

The data has been pointed out by its CEO, Pat Gelsinger, who had previously indicated that the shortage could end in 2023.

“[We think] the overall semiconductor shortage will now shift into 2024. The shortage now has affected equipment and some of those factory ramps are going to be more difficult,” he told CNBC on Friday.

Scarce, but not widespread

According to Intel’s own reports, this shortage of semiconductors is not affecting the industry across the board, allowing for some highly profitable jobs.

“For the first time in years, Intel factories and our substrate supply are close to meeting our customers’ demand,” Gelsinger said  on the company’s first-quarter 2022 earnings call.

CPUs, GPUs, and game consoles were some of the higher-profile items affected by the shortage, but it seems supply and demand are already starting to catch up. Despite this, network chip providers are still in the midst of a major shortage.

Intel is one of the companies investing heavily in new production lines, building new factories in Ohio, Arizona and Germany , though the current timeline suggests none of those new factories will come online until the chip shortage ends.