The high demand for computer chips might continue even after the Covid-19 subsides, according to tech experts. Intel Corporation (NASDAQ:INTC) is quite impressed about the experts’ projections and hopes to continue tapping on the opportunity. These projections happen at a time when the company is focusing on its multibillion-dollar revival plan.
Intel Chief Executive Pat Gelsinger acknowledges the changes sweeping across, outlining how digitization has taken over across all spaces. Gelsinger says that his company is ready and willing to fill the gap, something it intends to achieve by directing efforts and resources in building the needed capacity. The official agrees that the pandemic accelerated the demand for the various digital tools but remains optimistic about the future.
Nadella speaks out
Microsoft Corporation (NASDAQ:MSFT) CEO Satya Nadella has been checking out the various changes sweeping across and admits that the world is moving into a new era. The official uttered these words in Intel’s strategy rollout by video, asserting that computing had expanded to become the world’s main thing.
Mr. Nadella looks forward to a future where the spending on technology will scale higher from the current 5% of gross domestic product to about 10% over the next ten years.
Market research firm IC Insights discloses that the semiconductor industry has been increasing its capital expenditure for quite a while. It outlines that the phenomenon has been ongoing even before Intel’s recent move. The global industry hoped to channel about $129.4 billion in establishing new plants and buying new equipment. The rise in expenditure moved up by 14% margin from where it stood the previous year.
Intel stumbled at some point
Intel has remained at the top of its game over the years as America’s chip-making icon. The business leader has grown significantly in popularity because of its focus on the development of advanced chips. However, this company’s business vibrancy stumbled over the past few years. It is a case scenario that witnessed the company lag behind rivals focusing on chip design and production.
Over the years, NVIDIA Corporation (NASDAQ:NVDA) has remained its major rival in the manufacture of graphic chips. Nvidia Corp beat Intel in the previous year, which was surprising considering that it outsources its chips.