Intel's chip shortage could continue until 2024

Intel, one of the world's leading semiconductor manufacturers, has revised its predictions about the duration of the chip shortage.

If at first, the company had spoken of 2023 as the last period before a recovery in the sector, now it shifts the focus to 2024.

Intel chief executive Pat Gelsinger blames the extension of the crisis to a lack of manufacturing equipment in factories.

In an interview with CNBC, Gelsinger said the global chip crisis could drag on until at least the end of 2024 due to "the shortcomings affecting today's equipment and manufacturing plants, which are severely tested."

To cope with the new scenario, Intel announced in March a € 33 billion investment for European production sites.

Recent data from Intel's Client Computing Group, a division that also manages the supply of processors to companies such as Google and Apple, shows a 13% decline in revenues for the last quarter.

A reduction that, for the American giant, is due to various factors, from the persistence of difficulties in Asian supply chains to the lower demand for Chromebooks by schools and the passage of Apple to the M1 chips.

The processors produced internally by the Cupertino giant have in fact almost entirely replaced the hardware that Intel previously supplied as a partner to Apple.