Comment by PeaceTed

That sounds reasonable but I suspect it was a little bit of both. Initially Covid slow down followed by large demand. A lot of older Nodes were shutdown (300-400nm) with the Covid slow down and a lot of chips ended up having to be moved over to newer nodes once demand picked up again. It led to a big swing in the flow of production and would have roll on effects.

Combine that with a huge GPU boom and you have the setup for production issues.