Intel CEO: Expect chip shortages until at least 2024

Component woes set to continue across the globe

In a new interview with CNBC, the CEO of technological giant Intel has suggested that the ongoing component crisis is set to continue for some time, predicting that chip shortages will remain a global issue until at least 2024.

CEO Pat Gelsinger made the comments in a conversation with CNBC, (as noted by VGC), wherein he lamented the continued lack of components, tool manufacture, and transportation needs to supply the international community with microprocessors, semiconductors, and other chip-based products. Gelsinger had previously expected the shortage to last until 2023, but has since revised his estimate, extending the delay by a further 12 months.

Numerous political and economical reasons factor into the current component shortage, with a key element being the ongoing COVID-19 pandemic, which has severely impacted global industry as a whole and has, essentially, put all production on the planet into “catchup” mode. Slowed component manufacture has led to a delay in producing games consoles such as PS5, Xbox Series X/S, and, (more recently), Nintendo Switch. It also affects the production of PC components such as motherboards and graphics cards.

With each and every statement put out by a top industry executive, the date for the production returning to a sense of normalcy is pushed further and further back. Much like COVID-19 itself, there seems to be a lot of assumption that the problem will improve simply because “it has to,” rather than due to any actual upward trend. Hopefully, the world will recover from this unprecedented situation sooner, rather than later.