Major Tech CEO Warns Chip Shortage Will Last Much Longer

Major Tech CEO Warns Chip Shortage Will Last Much Longer

Intel CEO Pat Gelsinger warned on Friday that the semiconductor shortage will last until 2024.

Certain manufacturing tools remain unavailable, which threatens to constrain chipmaking capacity, the executive told CNBC.

“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 explained.

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“We’ve really invested in those equipment relationships,” Gelsinger continued while discussing the diversification of chipmaking away from Asia, “but that will be tempering the build-out of capacity for us and everybody else, but we believe we’re positioned better than the rest of the industry.”

CNBC noted that Intel is investing heavily in semiconductor factories in the

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