Illustration by Alex Castro / The Verge

The ongoing global chip shortage is going to be a problem for a lot longer, according to Intel CEO Pat Gelsinger, who reiterated today ahead of the company’s Q3 earnings that he expects the shortage to extend until at least 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 told CNBC in an interview.

Intel rival AMD seemed to have more optimistic expectations, with AMD CEO Dr. Lisa Su commenting at the 2021 Code Conference that while supply would be “likely tight” for the near future, “it’ll get better in 2022” as production capacity continues to ramp. “It gets better next year, not immediately, but it’ll gradually get…

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