AMD is already dead. It has been from the Bulldozer launch; they do not and will not ever have the R&D cash to catch up, and management have made redundant most of the engineering staff. On top of that Intel's process lead is insurmountable, TSMC and GF and Samsung have no interest catching up. I was an AMD fan for a long time (though I always made rational purchasing decisions) and it's sad to see them go. In particular this new ARM strategy of theirs is ridiculous.
I agree that the competition is now ARM-based, but I actually think it is Samsung or Apple or Qualcomm, because they have alone have the R&D cash and will to design custom CPU cores with performance in mind. ARM is a small company with even less revenue than AMD.
I hope ATI are spunoff before all the talent leaves, I don't want to see Nvidia the sole graphics maker.
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