Intel is pessimistic: the chip crisis could continue until 2024

The CEO of Intel Pat Gelsinger declared, last Friday at the CNBC, that the semiconductors industry will suffer a deficiency of supplies until 2024.

In an interview on “ Techcheck ”, Gelsinger said that the global chip crisis could drag on it due to the limited availability of key tools for production.

“ this is part of the reason why we believe that the overall lack of semiconductors will continue until 2024, contrary to our previous estimates that spoke of 2023 ” said Gelsinger.

The CEO comments come a day after the chip manufacturer based in California offered a tax forecast for the second lighter quarter of expected to Wall Street. However, the profits and tax revenues of the first quarter have passed the expectations of analysts. Intel shares dropped by over 6%.

The request for semiconductors has been growing for years, as the world becomes more digital and the processing chips become an integral part of any product, from smartphones to cars to washing machines.

The pandemic caused by Covid-19 involved a deficiency of the chips, however, this is due to the fact that the factories were interrupted at the same time when the demand for consumer electronics has taken off. The deficiency had significant economic consequences and contributed to the United States, which are experiencing one of the economic inflations “ more hot ” from the beginning of the years ’ 80.