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Intel CEO warns chip shortage to last until 2023 as demand soars

Company announces $7bn Malaysia expansion in push to boost output

Intel CEO Pat Gelsinger says a capacity expansion in Malaysia is part of the company's strategy to help overcome a global chip shortage. (Nikkei montage/Reuters/AP)

KUALA LUMPUR -- The global chip shortage is set to last until 2023, Intel's chief executive officer said Thursday, stressing that demand continues to soar amid the coronavirus pandemic even as semiconductor manufacturers rush to expand production.

Pat Gelsinger, CEO of the U.S. company, expects huge supply gaps to remain despite the semiconductor industry scrambling to respond to the surge in appetite.

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