Intel CEO Believes Global Chip Shortage Will Last Until 2024

The Xbox Series X and Playstation have been hard finds for over a year since they launched. A global chip shortage is one of the many reasons for the short supply, and according to Intel CEO Pat Gelsinger, the short supply will continue until 2024.

In a recent interview on CNBC Data Check, Gelsinger who previously mentioned that the chip shortage will last until 2023 has updated his prediction, tacking on another year. Mr. Gelsinger believes that shortages are likely to continue because essential manufacturing tools are not readily available, so manufacturing cannot keep up with increasing demand.

“That’s part of the reason that we 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…”

– Pat Gelsinger via CNBC

For what it’s worth, things do seem to be improving as availability has improved. One can’t simply walk into a store and purchase a new Xbox Series X or PS5 easily, but if you stay on your toes, patient gamers are finding them online.

On the Xbox Series X|S front, in particular, people are getting their hands on console. Could be the reason why they are selling so well. Who would have thought.

[Source: CNBC]

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