Intel’s CEO Pat Gelsinger has echoed other analysts and indicated that the global semiconductor shortage could stretch into 2023.

“The strong demand environment continues to stress the supply chain,” he wrote in an investor letter that was otherwise filled with good news.

“While I expect the shortages to bottom out in the second half, it will take another one to two years before the industry is able to completely catch up with demand.”

Gelsinger saw the upside of these shortages, writing: “It’s a thrilling time for both the semiconductor industry and for Intel. We’re seeing unprecedented demand as the digitisation of everything is accelerated by the superpowers of AI, pervasive connectivity, cloud-to-edge infrastructure and increasingly ubiquitous compute.”

He echoed the shortage comments in an interview yesterday, saying, “We have a long way to go yet,. It just takes a long time to build capacity.”