Intel CEO: chip shortages 'will now drift' into 2024, up from 2023

We've been all sitting and waiting to see the chip shortage improve, and while estimates have been optimistic until now... Intel CEO Pat Gelsinger has some bad news for you.

In a new interview with CNBC, Intel CEO Pat Gelsinger said: "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".

We won't be seeing the situation improve this year, nor next year... but 2024... a very long time away. The shortage has been affecting us as consumers for now, but manufacturing and factory equipment are now affected. These industries are paramount, as they're required to -- you know -- actually make the things that were already in short supply.

Intel is hoping to be ahead of some of its competitors, with Gelsinger emphasizing "we feel like we're better positioned than most". He added: "The combination of our internal capacity as well as our leverage of foundries - we're just better positioned, and that's part of the structural advantage that Intel has".

Buckle in folks, just as technology is absolutely exploding in specs... the biggest shortages in history are happening. Sigh.