The global chip shortage will continue to worsen for the time being, according to Intel CEO Pat Gelsinger, with the industry forecast to endure a worsening situation throughout the second half of 2021, before there’s any real hope of recovery.
“I don’t expect the chip industry is back to a healthy supply-demand situation until ’23,” he said in an interview. “For a variety of industries, I think it’s still getting worse before it gets better.”
Previously in June, Gelsinger said there probably wouldn’t be any real solutions to major issues facing the industry for several years, specifically to “address shortages of foundry capacity, substrates, and components.”
Longer term, the chip industry is positioned for a period of growth, Gelsinger predicted. Over the next decade, the increasing uses for chips – including 5G phone systems, electric vehicles and expanded artificial intelligence – will drive strong demand, he said.
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