Wait, the chip shortage is lasting longer than next year?

Published

2 years ago

May 2, 2022

Brittany Coles

Your next iPhone and car will be delayed in production due to the chip shortage, but the crisis could last longer than expected

Intel CEO now says the chip shortage will ‘drift’ into 2024.

This comes just six months after predicting the global chip shortage would last until next year.

Now Intel CEO Pat Gelsinger is suggesting it could be the year after until some sort of normality.

The CEO told Bloomberg the semiconductor shortage will now drift into 2024 because the shortages have now hit equipment and factories are facing more challenges

The ‘chip shortage’ is a complex issue.

In fact, Intel’s own chips are doing fairly well.

“For the first time in years, Intel fabs and our substrate supply are close to meeting our customers’ demand,” Gelsinger said yesterday on the company’s Q1 2022 earnings call.

“We expect the industry will continue to see challenges until at least 2024 in areas like foundry capacity and tool availability as an IDM,” he said on the call.

Intel is one of the companies investing heavily in new production lines, with the first new fabs in Chandler, Arizona, scheduled to open in 2024.

Related Topics:CHIP SHORTAGE Politics Tech trending

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