Qualcomm CEO Cristiano Amon stated that the surge in ai will not lead to a repeat of the global chip shortage seen during the COVID-19 pandemic, despite the increasing demand for smart phones supporting ai. "During the pandemic, everyone stayed at home and started buying consumer electronics," he said on Tuesday at a web summit in Lisbon, "which has been beneficial for the business, but the supply chain couldn't keep up." He added that since then, "a significant amount" of investment has been made to increase chip production capacity. "Now the demand and supply in the semiconductor industry are in balance at 100%," he said.