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WE ARE IN THE ‘WORST’ OF THE CHIP CRISIS AND IT WILL LAST UNTIL 2023, INTEL BOSS SAYS

independent– Intel is in the “worst” of its chip crisis, and it will not be fixed until 2023, its chief executive has said.

Like other chip makers, the company is struggling to make enough processors to feed the vast demand, leading to issues with the availability of everything from PlayStation 5s to cars.

That will continue in some form until well past next year, Pat Gelsinger told CNBC.

“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.

He said that the problem was not always creating chips in general but that specific parts may not be available. That has compressed the sales of Intel’s own computers, Mr Gelsinger said, since it was difficult to get all of the different components required.

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