Anyone having a problem getting a new graphics card, car, household appliance, or any other modern piece of tech won’t have much better luck any time soon. Speaking to Yahoo Finance, CEO Jensen Huang signaled that he expects the chip shortage to last well through 2022.
“I think that through the next year,” Huang said, “demand is going to far exceed supply. We don’t have any magic bullets in navigating the supply chain.” Supply chain bottlenecks, from a lack of components used in creating products, like semiconductors and microchips, to staff shortages at ports, have impacted economies around the world. The ongoing chip shortage began at the start of the pandemic, and so far, the situation hasn’t changed.
Huang says the situation isn’t as bad for Nvidia, which made 47% of its revenue in 2022’s second fiscal quarter from the sale of graphics cards. “We have the support of our suppliers,” continued Huang. “We’re fortunate that we’re multi-sourced and that our supply chain is diverse and our company is quite large so we have the support of a large ecosystem around us.”
Intel CEO Pat Gelsinger has a more grim outlook on the ongoing shortage, saying that issues could extend to 2023.
If the chip shortage lasts through much of 2022 as Huang predicts, consumers may also see fewer gaming consoles on store shelves. Both Sony and Nintendo have cut production goals of their consoles, the PS5 and Nintendo Switch respectively, due to supply chain constraints. Sony will be producing 1 million fewer PS5 consoles while Nintendo is planning to cut a whopping 6 million from its production schedule ending in March.