Global Chip Shortage Could Extend Until at Least 2023, Says Intel CEO
Oct. 23, 2021However, in Intel’s case, it was not all bad during the past months. The CEO stated that despite the low supply of chips, Intel was able to garner a 5% YoY increase in its revenue, thanks to strong demand in its DCG and IoTG wings. Moreover, the company generated $9.9 billion from cash operations and paid dividends of $1.4 billion.
“Q3 revenue was $18.1 billion slightly below our guide due to shipping and supply constraints that impacted our businesses,”said the Chief Financial Officer at Intel, George S. Davis, in a statement.
Moreover, as per the CEO, the demand for consumer-focused high-end notebooks and commercial desktops remained steady over the course of the period. However, Gelsinger stated that the digitization of everything, thanks to the four primary technologies such as AI, cloud-to-edge infrastructure, strong connectivity, and open-source computing, will continue to push the demand for silicon chips in the industry.
A geek at heart, you’ll find me fidgeting with an iOS device or sitting in front of the laptop, scouring the internet to find interesting technological innovations. In my free time, you’d find me playing Valorant or listening to Pink Floyd.
