Intel CEO Pat Gelsinger has indicated that the US company anticipates that the semiconductor industry will continue to suffer the consequences of the crisis until 2024.
The Intel manager pointed out last January that this shortage of components, which affects the global electronics industry, would continue to have an impact during this year and until 2023.
Now, Gelsinger has pointed out in an interview with CNBC that the chip shortage could last another year, until 2024, due to the limited availability of key manufacturing tools, which complicates the development of equipment and devices.
“This is one of the reasons we believe the overall semiconductor shortage will last into 2024 compared to our previous estimates,” Gelsinger said.
Gelsinger’s remarks came a day after Intel gave its forecast for the fiscal second quarter lower than Wall Street expected.
It should be remembered that the need for semiconductors has been growing for years, as processes are digitized and the technology industry advances, so chips have become an essential element for all sectors.
Therefore, since Gelsinger took over as CEO in February 2021, the company has been announcing a series of investments to diversify semiconductor manufacturing geographically.
Although most of the American company’s factories are now in Asia, the manufacturer plans to expand its manufacturing plants and take them to the United States and Europe.
“We have invested a lot in those equipment relationships, that will temper the increase in our capacity, but we believe that we are better positioned than the rest of the manufacturers in the industry,” said Gelsinger.