Chip shortage may last until 2023: Micron

Micron President and CEO Sanjay Mehrotra recently met with the President of the United States at the White House to discuss competition and supply chain issues. Fox Business spoke with the Micron CEO on Thursday to discuss the current chip shortage and his views on the current industry.

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Micron said the chip industry would not see improvement until next year, stressing to the U.S. president the need to work with the private sector. Chip shortages are improving, but the full replenishment of semiconductor chips will not be completed in 2023. 

Moreover, the Micron president also raised concerns about the U.S. government and private-sector collaboration to elevate the U.S. to the top spot in the chip market.

In 2022, the chip shortage will continue to improve, but some shortages will continue into 2023. Of course, Micron will continue to make the necessary investments to meet growing customer demand. The Micron CEO said the Asian country has helped the semiconductor and chip industries for a few years.

Furthermore, the impact of the coronavirus pandemic on the semiconductor industry, with more people working remotely from home, has all driven demand for smart devices ranging from data centers to PCs to smartphones.

All of this is driving demand for Micron, which has been investing in advanced technology for quite some time and bringing it into high-volume production. The CEO of Micron said his company will invest more than $150 billion over the next decade in the research, development, and manufacturing of memory, such as SSDs.

(via)