Intel believes that the chip shortage might last until 2023

Intel CEO Pat Gelsinger has said that the supply-demand balance won't level out until 2023 if not later.

The COVID-19 pandemic put a monkey wrench into everybody's plans. Its effects have been evident for the past year or two, but we won't see how much impact it will make worldwide until a few years from now once the world has finally recovered from it. However, one thing that can't be denied going forward is that the world probably will never go back from relying on digital entertainment and online working or learning models going forward.

Intel's CEO just painted a worse picture than most people expected about the ongoing semiconductor shortage.

With that said, the increase in demand for consoles, laptops, graphics cards, and processors, among others, means that manufacturers have had difficulty trying to keep up.

Now, according to Intel CEO Pat Gelsinger, things aren't going to get better anytime soon.

QUICKTAKE: View the short-form version of this news or swipe up to keep reading.

Intel CEO has bad news for tech folks

The good news here is that things have started to get better than before.

The ongoing semiconductor shortage has lasted arguably for as long as the pandemic has, which explains why it's so hard to get your hands on a PS5 and Xbox Series S/X. But, the shortage isn't just affecting consoles. The same semiconductors are also used in graphics cards, processors, mobile phones and pretty much every other electronic device that you can name.

Given how in-demand these semiconductors are, Intel's CEO just reminded everyone that things aren't going to get better anytime soon.

In a recent interview with CNBC, Pat Gelsinger explained that it might take a few years before manufacturers can keep up with the supply and demand for chips. Although it's nice to see that things are getting better, most probably didn't expect the shortage to last until 2023. Even if things might still change, there's no telling if the change is for the better or the worse.

Speaking of worse, the current cryptocurrency bull market suggests that the demand for more graphics cards isn't going to subside anytime soon. Reseller bots from scalpers looking to take advantage of customers who are willing to pay a premium aren't helping either. It's safe to say that the outlook for electronic devices over the next few months is bleak.

Ray Ampoloquio
Ray is a lifelong gamer with a nose for keeping up with the latest news in and out of the gaming industry. When he's not reading, writing, editing, and playing video games, he builds and repairs computers in his spare time. You can find Ray on Twitter.
Star Wars Jedi: Survivor officially revealed Sony to hold a State of Play event on June 2 Box art confirms that Call of Duty is going narco for Modern Warfare 2 The Mandalorian Season 3 is coming out on February 2023 Returnal could be the first PS5-exclusive headed to the PC What is the Heardle answer for May 27, Friday? Wordle 342 for May 27: Hints and Answers Xbox and Stranger Things crossover might be in the works The May update for Gran Turismo 7 brings three new cars God of War, Horizon, and Gran Turismo TV shows are in development