Pat Gelsinger joins Yahoo Finance at the 2022 World Economic Forum in Davos, Switzerland to discuss the U.S. chip shortage and the importance of semiconductors.
PAT GLESINGER: We're about halfway through and my expectation now is that a persists through 2024. And the big issue that we've additionally faced over the last 6-9 months is equipment that goes into the fabs. We also now we and others are building the fabs, but we need the equipment to come into the fab to turn them into manufacturing output.
And those equipment lead time so pushed out pretty substantially over the last six months. The world is at this digital renaissance point where we get to decide what and how the role of digital plays, but importantly, how semiconductors fit underneath that. Because what portion of your lesson, Sozzi, isn't going more digital? Well everything is.
BRIAN SOZZI: Every second of my life is more digital.
PAT GLESINGER: And everything digital runs on semiconductors. It is that important to the future of everything.