A U.S. Federal Reserve official said shortages of artificial intelligence (AI) equipment could last more than two years.

Cointelegraph, a blockchain news outlet, reported on Oct. 14 that New York Fed President John Williams (존 윌리엄스) said in a Bloomberg interview that it could take more than two years for AI equipment supply to catch up with demand. He noted that building AI infrastructure is pushing up chip prices and prices of goods that use them.

Asked whether supply and demand in the AI sector would reach balance over the next two years, Williams said it would likely take longer. He added that a key assumption is that demand continues to rise as expected.

He also reaffirmed his existing view that the Fed may need to raise interest rates once more this year. That leaves open the possibility of further rate hikes to bring down inflation.

Williams also said the flow of AI investment is unlikely to be hit hard by rising interest rates. He explained that AI investors are relatively insensitive to interest rates and see AI as driving productivity gains and changes in the economic structure. He also said monetary policy is not expected to have much impact on AI investment.

The shortage could also weigh on bitcoin miners expanding into AI. Those companies must compete with other buyers for chips and power equipment as they build AI data centres. Miners moving into AI are already facing a substantial funding burden and tougher borrowing conditions.

IREN signed a new AI cloud contract worth $2.8 billion in July. While miners are expanding into AI based on power infrastructure and data centre operating capabilities, constraints in equipment supply and financial conditions remain variables.

The remarks show that expanding AI demand is linked not only to technology investment but also to prices and interest rates, semiconductor procurement and securing power equipment. As AI and bitcoin mining share some infrastructure, continued supply constraints could affect the pace of investment and cost structures in related industries.