“Every aspect of human existence is going online, and every aspect of that is running on semiconductors… People are begging us for more.”
—Pat Gelsinger, the new chief executive of Intel
Gelsinger made these comments at a virtual meeting with President Biden and 18 other executives in response to a microchip shortage. Microchips are used in every type of electronic device, and the shortage has ripple effects through all industries.
The shortage is due to a few factors that disrupted the supply chain: COVID, a factory fire in Taiwan, and a cold snap in Texas that shut down manufacturing. Items that previously sold for $15 now sell for $200 due to the shortage of the chips and lack of supply in the market. Long story short: It’s not a good time for businesses to upgrade electronic and communications hardware.
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