Intel CEO Pat Gelsinger told CNBC on Friday he now expects the semiconductor industry to suffer supply shortages until 2024. An interview about " TechCheck Gelsinger indicated that global chip shortages could continue due to limited supply of key manufacturing equipment, which may make it hard to increase capacity in order to keep up with rising demand. Gelsinger stated that the general semiconductor shortage could now shift to 2024 from the 2023 estimates. Gelsinger explained, "That's partly why we believe it will drift into 2024." These comments were made by the CEO one day after chipmaker Chipmaker was founded in California. offered a second-quarter forecast Wall Street was expecting a lighter figure. Analyst expectations were exceeded by its first quarter earnings and revenue. Intel shares fell more than 6 percent Friday.