Intel CEO Pat Gelsinger had bad news for everyone hoping the semiconductor shortage would end soon, saying it won’t happened until 2023.
Industries the world over are struggling with one of the worst semiconductor shortages in history. Early lockdowns and COVID outbreaks hurt production at a time when unprecedented numbers of people were transitioning to remote or hybrid work. Between a contained supply and an uptick in demand for laptops, tablets and gaming consoles, the industry has yet to recover.
Unfortunately, the shortage has spread beyond just the tech industry. Automakers have been struggling to maintain production as a result of not having enough chips to build out their vehicles.
In an interview with CNBC, Gelsinger said the industry is currently in the worst phase of the shortage, a shortage that will last until 2023.
“We’re in the worst of it now, every quarter next year we’ll get incrementally better, but they’re not going to have supply-demand balance until 2023,” Gelsinger said.