Intel CEO Pat Gelsinger commented on the global semiconductor shortage to Yahoo Finance, saying, “We can’t build fabs overnight, it takes a couple of years to get built up.”
Gelsinger blamed the shortage on very strong demand for computing equipment — from laptops used for work from home to tech in new cars — during the COVID-19 pandemic.
“There is an extraordinary demand for semiconductors as we’re seeing basically, the world is becoming more digital in every aspect,” he added.
The scarcity has prompted U.S. President Joe Biden to sign an executive order to address the issue, after he pledged to seek $37 billion in funding for legislation to supercharge chip manufacturing in the United States.
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