Intel CEO sees '10 good years' of chip industry growth
Intel CEO Pat Gelsinger said that he expects 10 "good years" of growth in the semiconductor industry during a panel at CNBC's Evolve conference on Wednesday.
"We believe the market, the world, is in a very expansionary period," Gelsinger told CNBC's Jon Fortt. "I predict there's 10 good years in front of us, because the world is becoming more digital, and everything digital needs semiconductors."
The remark suggests that Intel's investments in chip production, such as plans to spend $20 billion to build a chip fabrication plant in Arizona, will create capacity that will be used even after the current global microchip shortage abates. Intel also recently announced plans to become a "foundry," or a company that manufactures microchips for other companies.
Gelsinger was appearing at a CNBC panel alongside Qualcomm CEO Cristiano Amon. Both started leading their companies earlier this year.
