Intel CEO Thinks Chip Shortage Will Stretch to 2024

Intel CEO Thinks Chip Shortage Will Stretch to 2024

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Intel CEO Pat Gelsinger expects that chip shortages will continue through to 2024.

On an interview with CNBC’s TechCheck, Gelsinger suggested that a lack of availability of tools to manufacture chips  would drag out shortages, making it harder to reach high demand.  

“That’s part of the reason that we believe the overall semiconductor shortage will now drift into 2024, from our earlier estimates in 2023, just because the shortages have now hit equipment and some of those factory ramps will be more challenged,” Gelsinger said on the TV interview.

A number of analysts had suggested that the end is near for the shortage with expanded wafer production and slightly less demand in the marketplace.

While Intel is the sole American company the makes its own processors, it still is reliant on outsourcing. Gelsinger famously made the decision to produce certain “leadership CPU products” in 2023 through TSMC.

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