Chip shortages will continue into 2024, says Intel CEO

The tech industry is in a severe supply crisis. And it seems that we will have to wait longer to resolve this situation that undoubtedly affects the video game industry.

Since the arrival of the PlayStation 5 and Xbox Series X consoles, the truth is that not many players have been able to get them. In fact, it’s really unusual to walk into a store and see units of both consoles on the shelves.

This crisis also affects Nintendo Switch and NVIDIA’s RTX graphics (and other manufacturers). When will we end this crisis? The forecasts seem to have been overly optimistic.

In an interview with CNBC, the CEO of Intel (one of the big technology companies) assures that the shortage of chips and semiconductors will continue until 2024. In other words, we have to wait two more years to end this crisis.

Previously, top Intel or NVIDIA executives had set 2023 as the deadline for solving this problem. And it seems that there is still no proper structure to guarantee a solution.

There are not enough tools to ensure the production of so many chips. In today’s entertainment industry, it becomes utterly impossible to produce that many consoles, graphics and other products, let alone the speed it takes to meet global demand.

This chip shortage has been widespread in the industry for several years. The COVID-19 pandemic was the trigger for this situation, which gradually expanded to unimagined limits.

Nevertheless, Gelsinger is satisfied with Intel’s performance in this crisis. He states that unlike the competition (NVIDIA, AMD), they are close to meeting the global demand for their products.

The reason for the success lies in the new production lines from Intel. The company has invested exponentially in these measures to address the chip shortage, although they will only be completed in 2 or 3 years.

Top 10 Online Multiplayer PC Games You Can Play in 2022

The same is happening in the console market. Microsoft has managed to ramp up production of the Xbox Series X in recent weeks, while Nintendo and Sony are struggling to meet demand for the Switch and PlayStation 5.

Unfortunately, it now looks like there won’t be enough consoles or graphics…until 2024. Do you have a PS5 or Xbox Series X? If so, consider yourself lucky because getting one today is no easy feat.