AI boom won’t lead to global chip shortage, says Qualcomm CEO Amon

Qualcomm Inc. Chief Executive Officer Cristiano Amon said the artificial intelligence boom won’t lead to a global chip shortage similar to what happened during the pandemic, even with demand for AI-enabled smartphones rising.

“During the pandemic everybody was home and started buying consumer electronics,” he said at the Web Summit conference in Lisbon on Tuesday. “It was good for the business, but the supply chain was not able to handle.” Since then, he added, “a lot” of investment has been made to increase the production capacity of chips.