The global chip shortage has been an ongoing crisis in the semiconductor industry and it's not going to end anytime soon. Intel CEO Pat Gelsinger expects the crisis will continue until 2024.
"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.
According to Gelsinger, the shortage may continue due to constrained availability of key manufaturing tools, which becomes a problem to expand capacity levels required to meet the high demand.
"We feel like we're better positioned than most," Gelsinger told Bloomberg. "The combination of our internal capacity as well as our leverage of foundries — we're just better positioned, and that's part of the structural advantage that Intel has."