AI Demand Surges: Memory Chip Shortage to Persist Until 2028 - INTC

[Para 1: The Lead] Intel CEO, Bob Swan, announced on Tuesday, February 03, 2026, that global memory chip supply shortages are likely to persist for years, with no immediate relief. According to major memory chip manufacturers, the pressure is expected to ease only by 2028. The shortage is exacerbated by the rapid expansion of AI applications, which are "absorbing a significant amount of memory," according to Swan. [Para 2-3: Supporting details & Context] Swan, addressing the Cisco AI Summit, revealed that recent discussions with two leading memory chip suppliers confirmed that the overall supply tightness will not alleviate until at least 2028. He highlighted that the AI infrastructure buildout surge is a key driver of increased memory demand. Notably, NVIDIA (NVDA-US), a major AI processor supplier, is expected to further escalate memory demand with its Rubin platform and future generations of products. Intel is aggressively entering the GPU market, recruiting a new Chief GPU Architect, a move that will integrate with Intel's data center chip business and foundry services.