Home Stock Market The global chip shortage will last for another 2 years: Intel CEO

The global chip shortage will last for another 2 years: Intel CEO


New Intel CEO Pat Gelsinger said Thursday that supply constraints and the “huge” investment needed to meet demand mean chip shortages affect the industry. the automotive industry and other sectors are likely to last for another two years.

  • “It will take some time until people can put more energy into the ground,” he said explain, as Intel
    INTC,
    -1.77%

    announced first quarter results Beat sales and earnings expectations.

  • Daimler of Germany
    TOUGH,
    -0.04%

    is already Latest car manufacturer warned on Friday that a persistent shortage of semiconductor chips could hurt sales in the second quarter. Competitor Renault
    RNO,
    -1.34%
    ,
    Volvo
    VOLV.B,
    + 0.77%

    and BMW
    BMW CARS,
    -0.42%

    issued similar warnings this week.

  • Jaguar Land Rover said on Thursday that two of their UK factories will be temporarily closed next week, due to the supply chain disruptions associated with Covid-19 including the lack of semiconductor chips.

  • President Joe Biden last week used a meeting join auto and technology executives to advance its $ 2.3 trillion infrastructure spending plan to plead for a stronger domestic chip-making industry .

Read: Volvo’s crushing income. Truck makers may shrug off the lack of chips.

Prospects: A year of supply chain disruptions forced governments around the world to consider ways to “revive” key industries, with chips on the list of strategic priorities. Last week the UK government launch a poll out of Nvidia’s 40 billion dollars
NVDA,
-3.32%

Take over Arm based in the UK for security reasons.

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