Intel CEO Expects Chip Shortage to Last Until at Least 2024
upstart writes:
Intel CEO expects chip shortage to last until at least 2024:
Intel chief Pat Gelsinger has predicted that the global chip shortage will remain a challenge for the industry until at least 2024, particularly in areas such as foundry capacity and tool availability.
[...] During the call, Gelsinger pointed out that ongoing COVID-19 lockdowns in Shanghai and the Russian invasion in Ukraine have demonstrated the need to promote "more resilient and more geographically balanced semiconductor manufacturing", particularly as he believes that semiconductors will be the "the fuel of innovation and transformation".
"I continue to believe we are just at the beginning of a long-term growth cycle across semiconductors," he said.
"We continue to see some matched-set limitations in areas like ethernet, some softening in low-end consumer PC, and some inventory adjustments as we discussed on our last call, but overall, the demand signals from customers continue to be robust in areas like enterprise, cloud, AI, graphics, and networking."
He noted, however, the company's pace in which it achieves its expansion plans will also be dependent on the passing of the CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act. If passed, it would unlock an eye-watering $52 billion funding boost to US production of semiconductors.
[...] "I recently testified before the Senate to highlight the critical need for the US to fund the CHIPS Act. I continue to encourage Congress to fund this critical legislation and enable us to move faster toward making a balanced semiconductor supply chain a reality," Gelsinger said.
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