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Intel’s CEO sees chip shortages lasting into 2024

Intel CEO Pat Gelsinger said the chip shortage will last longer than expected as the semiconductor giant reported a drop in quarterly sales amid a slowdown in PC purchases.

The Santa Clara, California-based company, made good money on the shift to teleworking and learning, which led to a shopping frenzy for desktops and laptops, many of which used Intel chips. PC shipments fell about 5% in the first quarter, according to estimates by International Data Corp., suggesting that a two-year surge in demand may have peaked.

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