Intel CEO now thinks chip shortage will last into 2024

Intel CEO Pat Gelsinger holds up a semiconducting chip during a Senate hearing on technology in March 2022
(Image credit: Bloomberg via Getty Images)

Intel CEO Pat Gelsinger now thinks the semiconductor shortage will last into 2024, which will likely have knock-on effects for the gaming space as CPU and GPU prices stay elevated. The reason? The shortage of chips is affecting the speed at which the equipment used to make semiconductors can be made. In short: You need chips to make chips.

In an interview with CNBC, 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." Gelsinger's reference to ramps here refers to the process of "ramping up" a new factory's production.

Gelsinger had previously said, and reiterated, that shortages would continue into 2023. The CEO of Micron said in March that shortages would continue into 2023, possibly further affecting the price of memory and SSD components. 

At this point it's fair to wonder whether it might be better if everyone stopped talking and knuckled down with the business of making chips. That said, Gelsinger's tenure as CEO at Intel has seen the company increase spending to build new semiconductor factories in the United States and Europe, partially as a response to the overall global shortage. So he's doing his bit.

Good spot, VGC.

Jon Bolding is a games writer and critic with an extensive background in strategy games. When he's not on his PC, he can be found playing every tabletop game under the sun.