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Global chip shortage may last into 2024 according to Intel CEO

By Cookie Monster - on 30 Apr 2022, 10:37am

Global chip shortage may last into 2024 according to Intel CEO

Image source: 9to5Mac

The global chip shortage may last another two years. 

Intel CEO Pat Gelsinger told CNBC that the chip shortage could stretch until 2024 due to the lack of key manufacturing tools, which is a barrier to expanding capacity levels to fulfil increased 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.

Intel's estimates come one month after ASML made a similar prediction that the chip shortage could last longer than expected. ASML says its supply of machines will be constrained in the next two years. As a result of the global shortage, chip makers are marking up prices which will have a "noticeable" effect on retail prices of consumer devices such as phones and PCs.

Source: CNBC

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