“We’re almost halfway there,” said Intel’s CEO

Pat Gelsinger, CEO of the generally-optimistic Intel, has offered a surprising perspective on when the shortage of semiconductors can reduce the shortcomings of everything from automakers to PC makers.

“We are about half way [the chip shortage]Gelsinger told Yahoo Finance Live on the sidelines of the World Economic Forum in Davos, Switzerland on Monday. “My expectation now is that this will continue until 2024 ৷ and the biggest problem we’ve tackled in the last six to nine months is the tool that goes to Fabs.”

Constantly low-level semiconductors reflect the frantic shopping spree across the COVID-19 epidemic that seeks to power home-based technologies such as video games and crypto from PCs.

U.S. President Joe Biden holds a semiconductor chip as he speaks before signing an executive order aimed at filling the global semiconductor chip deficit at the White House State Dining Room in Washington, USA, on February 24, 2021.  REUTERS / Jonathan Ernst TPX Day Photo

U.S. President Joe Biden holds a semiconductor chip as he speaks before signing an executive order aimed at filling the global semiconductor chip deficit at the White House State Dining Room in Washington, USA, on February 24, 2021. REUTERS / Jonathan Ernst TPX Day Photo

Demand for chips has risen 17% from 2019 to 2021, according to a recent report from the Commerce Department. Inventory between semiconductor products highlighted by buyers has fallen from 40 days in 2019 to less than five days in 2021, the report said, and inventories in key industries are even smaller.

“This is a crisis,” Commerce Secretary Gina Raymondo said of the deficit on Yahoo Finance Live in January.

The situation has reached such a critical stage that automakers like General Motors and Ford have shipped vehicles without specific chips.

A simplified look at the global semiconductor supply chain for smartphones.  Reuters

A simplified look at the global semiconductor supply chain for smartphones. Reuters

Industry giants such as Intel and AMD are waiting for the US government to play its part and pass $ 52 billion in chips for US law. In June 2021, the Senate signed into law legislation aimed at encouraging U.S. semiconductor manufacturing, but the bill is still being debated in the U.S. House of Representatives.

President Joe Biden said in the bill earlier this month in the presence of a metal maker, “Pass the curse bill and send it to me.”

Brian Suzy A great editor and Yahoo is anchored in finance. Follow Suzy on Twitter @ Briansoji And then LinkedIn.

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