Intel CEO reiterates warning that global chip shortage could last years


Intel Corp.’s CEO reiterated on Monday that the global shortage of semiconductors could take a few years to resolve.


The shortage, which has snarled auto production and caused supply chain issues for a number of other industries, including cellphones and consumer electronic products, is the result of dislocations caused by COVID-19. Companies shut down production facilities in the early days of the pandemic, hampering their ability to keep up with surging demand for products needed while sheltering at home.


While the industry has taken steps to address near-term constraints it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components," said Intel CEO Pat Gelsinger during a virtual session of the Computex trade show in Taipei.


The comments come just over a month after Gelsinger predicted the shortage would last another two years, until its new production facilities are up and running.


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By Jonathan Garber FOXBusiness

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