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.

• Read more: AMD CEO Lisa Su expects chip shortages to ease in 2H 2022
• Read more: President Biden wants GPUs and next-gen consoles in your hands ASAP
• Read more: Foxconn admits component shortages are here until at least mid-2022
• Read more: Yeah, you might be waiting until 2022 to get a new NVIDIA or AMD GPU

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.