Intel CEO now says the chip shortage will ‘drift’ into 2024

Illustration by Alex Castro / The Verge

Six months after predicting the global chip shortage would last until at least 2023, Intel CEO Pat Gelsinger is now suggesting it might be 2024 before we’re fully out of the woods.

“[W]e 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,” he told CNBC on Friday.

But while that sounds a little doom-y and gloom-y, you should know that the “chip shortage” is an involved, evolving situation that doesn’t affect every kind of chip at every time. Some industries and some kinds of parts have been worse hit than others as things go on. In fact, Intel’s own chips are doing fairly well….

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Author: Sean Hollister