Chip shortages will persist into 2024, says Intel CEO

Intel CEO Pat Gelsinger revealed interesting insider news about the chip shortage during one of his interviews with CNBC. Speaking about his perspective on the outlook for what the deficit will look like in the coming years, he said companies, including Intel, will suffer well into the long term. The initial shortage of semiconductors could have a lasting impact until 2024.

The PC components have shown stable availability, but despite that, the shortage now seems to hit both production and factory equipment. This explains why Intel believes that the semiconductor shortages will continue for more than a year.

“That’s part of the reason we believe the overall semiconductor shortage will now drift to 2024, from our previous estimates in 2023, just because the shortages have now hit equipment and some of those factory ramps are going to be more challenging,”

— Pat Gelsinger, Intel CEO at CNBC

When it comes to Intel’s foundry plans, the company seems to have made a lot of progress quickly since Pat joined the company as CEO. Some of these plans include the multi-billion dollar factories and strategies that allow other companies to manufacture their chips. Judging by these plans, Intel seems to be in a much better place than many other companies that rely largely on third parties and their capabilities.

As promising as they seem, some of us find Pat’s comments to contradict the AMD CEO’s view. According to Dr. Lisa Su, these shortages appear to be disappearing by the end of this year. We’ll have to wait and see how impactful this deficit season has been for both Intel and AMD as both companies have a lot of launches in the coming months.

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