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The semiconductor fabs didn't shut down last year, did they? If we've run out of so many chips, there must be a glut of some other chips that nobody wants?

Are distributors holding zillions of unsellable obscure level shifters or CPLDs or something?

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Probably the fabs that made these chips haven't made them for years. They probably cranked out billions of them 20 years ago then converted to producing something more valuable.

We've probably run out of new old stock and nobody wants to go back to making these cheap chips.

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