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Intel CEO Pat Gelsinger says “we’re in the worst of” of the global chip shortage right now, and it will likely continue until 2023.

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The gaming industry, like many others, has been hit with a significant global shortage of semiconductor chips, making and supplying CPUs and GPUs. Alongside graphics cards, all the consoles on the market, including the PS5 and consequently Xbox Series X / S, and while everyone from Toshiba to Foxconn has hinted that the shortage is likely to end by 2022, there are those who disagree.

Recently, for example, Intel’s CEO, Pat Gelsinger, in an interview with CNBC although the shortage of semiconductors will slowly begin to improve, it is likely to remain an issue until as late as 2023.

“We are in the worst of it now, every quarter next year we will gradually improve, but they are not going to have a supply-demand balance until 2023,” said Glesinger.

AMD’s CEO, Lisu Su, recently suggested that the chip shortage would begin to end by the second half of 2022. Xbox boss Phil Spencer has also previously suggested that console shortages will continue to next year.

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