The shortage of next-gen consoles is about to get worse. Intel has shared extremely disheartening news about the global chip shortage, which has caused the ultimate production issues with PlayStation 5, Xbox Series X, and graphic cards.

According to Intel, the global shortage won’t end until 2023. Pat Gelsinger (Intel CEO) has made quite a bold yet disheartening statement in a recent interview with CNBC mentioning that both the CPU as well as the chip card shortage issue could last until 2023. This is the very first time the issue has been addressed with a specific year being mentioned.

CEO of Intel on CPU and Chip shortage

However, Gelsinger believes that the shortage will improve over time, but there won’t be a balance until 2023. Well, now, it looks like the immediate fix is not an option here anymore. Above all, he doesn’t think there will be a “supply-demand balance” for a few years.

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

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Lisa Su (AMD’s president and CEO) believes that this global shortage issue will be solved in 2022. However, all of this is purely based on industry forecast and nothing seems to be absolutely certain at this point. So, we all have to just wait and see what the future holds.

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The causes of global Chip shortage

The global chip shortage began during the Covid-19 pandemic due to all the restrictions. The closing of all the manufacturing sites and offices worldwide is one of the main reasons behind this shortage.

Many employees were forced to work from home due to the worldwide lockdown. The overall dramatic reduction in employee count impacted the manufacturing rate to a great extent. It also affected big companies like TSMC (main suppliers of giant tech companies). Due to these restrictions and the lockdown, a lot of titles also faced multiple delays in release.

However, hopefully, the situation will get better slowly. What do you think about these global shortage issues? Also, do you think this global CPU and chip shortage will last until 2023? Let us know in the comments below.

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