Intel: Chip crisis for technology and cars will last until 2024

Intel CEO Pat Gelsinger said the semiconductor crisis affecting the microchip industry is expected to last longer than expected. Gelsinger believes that the situation will continue until 2024, because the scarcity of materials has now affected the manufacturing branch. This could make it more difficult for companies to source the right tools to meet higher-than-usual demand. The lockdowns of the last two years have affected a demand that was skyrocketing at that time, and has put technology device manufacturers such as car companies in crisis. The United States is estimated to have lost $ 240 billion due to the supply crisis in 2021 alone. Previously, Intel had estimated that the problems would last until 2023. Intel also said that is building two new chip factories in Arizona, and another facility in Ohio. In Europe, Intel announced the investment of the first 17 billion euros (of the 80 planned in total) for the construction of a state-of-the-art mega-plant in Germany for the production of semiconductors, the creation of a new research hub and development (R&D) and design in France, and investments in R&D, manufacturing, foundry services and back-end stages of production in Ireland, Italy, Poland and Spain.