Intel CEO says chip shortages could last until 2023

Not just one part, but several

The global semiconductor shortage that’s affected both PC and console sales could stretch on for a while. Intel CEO Pat Gelsinger said in a new interview that he doesn’t expect the semiconductor shortage to end until 2023.

“We’re in the worst of it now,” Gelsinger told CNBC. “Every quarter next year we’ll get incrementally better, but they’re not going to have supply-demand balance until 2023.”

NVIDIA CEO Jensen Huang said earlier this year that it expects supply issues to continue into 2022. And AMD CEO Lisa Su also addressed the shortages last month, saying it will be tight this year and “likely tight” in the first half of next, but that it will “get better in 2022.”

These chip shortages have led to a lack of supply in the hardware side of things, especially felt by those still trying to get their hands on a PlayStation 5. The PS5, however, has also been Sony’s fastest-selling console.

“While PS5 has reached more households faster than any of our previous consoles, we still have a lot of work ahead of us as demand for PS5 continues to outstrip supply,” Sony Interactive Entertainment CEO Jim Ryan said about the chip shortages in July.

Xbox head Phil Spencer also recently said he expects console shortages to continue into 2022.

“When I think about, what does it mean to get the parts necessary to build a console today, and then get it to the markets where the demand is,” Spencer said in an interview with The Wrap. “There are multiple kind of pinch points in that process. And I think regretfully it’s going to be with us for months and months, definitely through the end of this calendar year and into the next calendar year.”