The CEO of Intel believes that the semiconductor shortages will persist until 2024.

The Corona crisis has also turned into a semiconductor crisis, which PC gamers witnessed in the shape of graphics cards that were either unavailable for an extended period of time or sold for far more than the suggested retail price. 

Those looking for a PlayStation 5 or Xbox Series X are also aware of the issue: the gaming consoles have been tough to locate in retailers since their release at the end of 2020. In addition, the auto industry is complaining about missing chips and the resulting manufacturing issues. Pat Gelsinger, Intel's managing director, is now bringing terrible news. According to him, the semiconductor problem will have an effect by 2024.

Previously, the CEO anticipated that things would return to normal in late 2022 or early 2023. However, he now predicts a lengthier crisis. This is also owing to a shortage of equipment for rapidly expanding manufacturing capabilities. However, if you do not increase your plants, you will be unable to fulfill the demand. Previously, it was not anticipated that production equipment would become limited. Semiconductors are now present in an increasing number of items, worsening the crisis: consumers have long moved beyond computers and increasingly require microchips for other smart gadgets. This includes anything from a washing machine and a temperature sensor to automobiles, game consoles, cellphones, and traditional PCs and laptops.

Intel intends to prepare for the coming years by dramatically expanding its facilities, including one in Magdeburg, Germany. Unfortunately, the new locations will not begin production for some years.