GlobalFoundries (NASDAQ:GFS)saw its shares climb more than 14%, Monday, just days after the semiconductor foundry went public, and its chief executive said a supply shortage in the chip sector could last for another two years or more.
Speaking on CNBC, GlobalFoundries (GFS) CEO Tom Caulfield said that for much of the next five to 10 years, "we’re going to be chasing supply not demand." Caulfield's comments come amid ongoing supply chain issues that have delayed the delivery of chips and other components to product manufacturers. Caulfield said the majority of the shortages have involved chips used in devices used in power management, displays, and for wireless connections.
Caulfield told CNBC, "We can’t make enough [products]. Every day, we try to squeeze out as much as we can. I would say we're over 100% [production capacity]."