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Intel CEO expects chip shortage to last until at least 2024

Dark prospects for those who thought that chip shortage would begin to ease by the end of this year: according to Intel CEO Pat Gelsingerthis crisis will last until at least 2024. Above all in terms of capacity of factories and plants and availability of tools. Of course, despite these very negative prospects, Gelsinger has assured, according to Zdnet, that Intel is in a good position to manage the complications that arise as a result of shortages in the supply chain, thanks to the investments and constructions of new plants, both in the United States and in Europe, which it has recently announced.

Gelsinger has assured this during a meeting with the company’s investors after the communication of its results for the first quarter of its fiscal year 2022. In the period, Intel has managed to enter 18,400 million dollars, 7% less than during the same last year’s period, but it has skyrocketed its net income, which has shot up to 141,000 million dollars, 141% more than a year ago.

Its Intel Foundry Services division has, however, improved its income by 175% during the period, in which it has entered 283 million dollars. Those of Data Centers and Artificial Intelligence, Networks and Edge, and Accelerated Computing and Graphics Systems have also grown. All posted 20% year-over-year growth in revenue during the reported quarter. The negative point was recorded by its Customer Solutions division, which had 13% less revenue, which stood at 9,310 million dollars. Mobileye has entered between January and March 5% more: 394 million dollars in total.

On these results, Gelsinger has commented that «The first quarter has been a strong start to the year, beating expectations on both the high and low end. With a trillion market opportunity ahead of us, we remain focused on our IDM 2.0 strategy. We executed this strategy well in the first quarter, achieving key product and technology milestones and announcing plans to increase our manufacturing capacity in both the United States and Europe to meet continued demand for semiconductors, and to drive a stronger global supply chain. balanced and resilient«.

As for the Intel CFO David Zinnerhas highlighted that «Intel delivered strong financial results, and we stand by our full-year revenue guidance. We remain committed to the financial framework we unveiled at the Intel Investor Summit, including diligently managing the business to drive both growth and profitability, and to create shareholder value.«.

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