Intel CEO now expects the chip shortage will last until 2024

Intel CEO Pat Gelsinger reckons that the chip shortage, which has negatively impacted many industries, including gaming, will remain a problem well into 2024.

In a recent interview with CNBC, Gelsinger told the outlet that the chip shortage could drag on for another two years due to the stress on key manufacturing tools. “[W]We believe the overall semiconductor shortage will now drift into 2024,” Gelsinger told CNBC.

Gelsinger has previously predicted several times that he expects the chip shortage to stretch 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 supply chain issues could stretch into 2023.

Although chip shortages remain a concern in various industries, Gelsinger noted that Intel’s proprietary chips are performing very well and nearly meeting demand for proprietary chips, as he said a few days ago during the company’s first-quarter earnings conference call 2022 of the company said.

Since 2020, the shortage of chips has been an ongoing topic. Some of the most prominent examples of supply chain issues include sales of the latest gaming consoles, the PlayStation 5 and Xbox Series X, along with new desktop GPUs from AMD and Nvidia. In recent weeks, however, at least the Xbox Series X console offering seems to be getting better and more regularly in stock at various retailers.

Intel has also been one of the few companies to invest exponentially in new production lines, though those new fab sites aren’t expected to open for another two to three years. The most notable location Intel announced back in January was in Ohio, which will be home to “the world’s largest silicon manufacturing site.” At the same time, there are other new factories currently under construction in Arizona and Germany.

Taylor is an Associate Tech Editor at IGN. You can follow her on Twitter @TayNixster. Intel CEO now expects the chip shortage will last until 2024

Fry Electronics Team

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