Intel CEO Predicts Semiconductor Deficit Until 2024

Intel CEO Predicts Semiconductor Deficit Until 2024

Intel CEO Pat Gelsinger said at a meeting with shareholders that the semiconductor deficit will remain until at least 2024.
He also noted that now is the time that will be \"the beginning of an extended period of growth in semiconductor production.
\"The largest lockdown in China, which was imposed in 27 cities for the first time in two years and affected 165 million people, and the crisis in Ukraine show that semiconductor production must be \"more sustainable and geographically balanced,\" TASS reports.Earlier, in mid-March, Intel announced the construction of a new advanced \"mega-factory\" in Magdeburg, Germany, which will not start up until late 2027.
The construction of a new facility will cost 17 billion euros.In addition, Intel plans to invest 7.1 billion dollars to expand production in the Malaysian state of Pinang.
In the future, both solutions can solve the problem of semiconductor shortage to create components for PCs and consoles.

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