Intel says chip shortage to last until 2023

Semiconductor giant Intel is saying that the ongoing chip shortage will continue to make it hard to find and buy new electronics well into 2023.

Intel CEO Pat Gelsinger stated in an interview with CNBC, published on October 21, that there is some good news, that things will gradually improve. However, it may be a few years before the supply and production issues with GPUs and CPUs are completely resolved.

“We’re in the worst of it right now,” Gelsinger said. “Every quarter next year, we’ll get incrementally better, but supply-demand balance won’t be achieved until 2023.”

This latest forecast, which predicts that ongoing chip shortages and production issues will last until 2023, paints a more bleak picture than Xbox CEO Phil Spencer’s remarks earlier this month.

He didn’t believe the continued shortage of supply and high demand for consoles, laptops, CPUs, and GPUs was solely due to a semiconductor shortage, telling The Wrap that there are “multiple kinds of pinch points” in the process of manufacturing and shipping high-end electronics like the Xbox Series X/S.

In the end, he predicted it would last well into 2022, but he didn’t say whether the same issues and shortages would persist in 2023. Intel’s CEO appears to be more pessimistic about the next two years. (Read: An iPad shortage could be a thing as the chip shortage hits Apple)

Intel and Spencer’s comments come almost a year after the launch of next-gen consoles, proving that things aren’t going to get any better anytime soon.

Global chip shortages, issues with COVID-19, extremely high demand, annoying and shady resellers, crypto miners, and supply-grabbin’ bots have all combined to create a perfect and terrible storm, meaning that most players are still unable to find next-gen consoles or new GPUs on Amazon or store shelves. For some people, even purchasing an older console, such as a PS4, has become nearly impossible.

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Variable staff

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