Global Chip Shortage Could Extend to 2023, Says Intel CEO

Earlier this year we saw that the Chip Shortage in the market had increased a lot. For which the price of the processor or GPU has increased a lot at present. In some cases, the necessary processors are not available in the market. And its effect is seen in the case of mobile processors also.

Although Apple and Google have introduced their own chipsets for their MacBook and Pixel devices, they are not able to supply the necessary devices. Semiconductor designers and manufacturers have warned that the global semiconductor shortage could stretch to 2023 (Read More). Now Intel CEO has confirmed that the global chip supply shortage could extend to at least 2023.

Also Read: Increase Wifi Speed in 8 simple ways – Optimize your Router

Chip Shortage Statement: by Intel CEO

Intel did an interview with CNBC, where Intel CEO Pat Gelsinger discussed about the Global Chip Shortage. Like other brands, Intel also faced the ongoing chip shortage. Pat Gelsinger revealed that the global shortage has affected its PC chip business in the third quarter of 2021. He also revealed that the company saw an 8% decrease in its stock value during the said quarter.

Global Chip Shortage Intel

“We’re in the worst of it now, every quarter next year we’ll get incrementally better, but they’re not going to have supply-demand balance until 2023,” said Pat Gelsinger during the interview.

Chip Shortage Confirmed by Nvidia

TSMC customer Nvidia said that “overall demand remains very strong and continues to exceed supply while our channel inventories remain quite lean. We expect demand to continue to exceed supply for much of this year.”

Executive Vice President and CFO Colette Kress said that the company hopes to have “sufficient supply to support sequential growth beyond Q1 [2022],” but not meet demand.

Also Read: How to Create a Windows 11 Bootable USB

Chip Shortage for Smartphones

Not only Intel or Nvidia, Samsung earlier this year, confirmed that due to the chip shortage they skip Galaxy Note and S21 FE devices in 2021. Also, Apple is now also looking to cut the production target of the iPhone 13 devices due to chip supply issues.

However, in Intel’s case, it was not all bad during the past months. The CEO stated that despite the low supply of chips, Intel was able to garner a 5% YoY increase in its revenue, thanks to strong demand in its DCG and IoTG wings. Also, the company generated $9.9 billion from cash operations and paid dividends of $1.4 billion.

SourceBeebom

LEAVE A REPLY

Please enter your comment!
Please enter your name here

FOLLOW US

LATEST