The CEO of Intel believes that a chip shortage might last until 2024

The CEO of Intel believes that a chip shortage might last until 2024 ...

According to Intel CEO Pat Gelsinger, the chip shortage will last till 2024. As with chips, semiconductor manufacturing tools are being scared, according to Intel. The previous assumption was that the shortage might come to an end in 2023.

Companies including Intel and TSMC are moving to new manufacturing facilities to meet the growing demand at the center of this crisis, but they do not expect to reach full speed until 2024. Over the last few months, Intel competitor TSMC and research firm Techet have also predicted a constrained semiconductor supply until 2024. However, the deciding factor they indicate is manufacturing capacity.

In the meantime, some businesses are using non-traditional methods to boost supply. Last month, ASML''s CEO said it has started recycling chips from washing machines for use in newer products.

The good news is that some retailers, including Target and Best Buy, have begun easing restrictions and are beginning to sell PlayStation 5 and Xbox Series X consoles in their brick-and-mortar locations. Similarly, Nvidia has strengthened the supply of its graphics cards, and MSRP prices have improved. Both cases should help alleviate tensions for gamers attempting to avoid scalper price gouging.

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