Short Intel?
X86 is a shrinking market and AMD are more competitive. ARM is growing. Intel don't seem to have much else to fall back on. Their AI chip is junk and they aren't making any GPU inroads. 5G was a failure. Anything I'm missing? What will they do to turn it around?
AMD was catching up on double digit market share for the server market since Intel was late to the game on 14nm. Intel insisted on having vertical control in its manufacturing process, whereas AMD didn’t mind using other companies’ factories. This allowed AMD to quickly get to 14nm. Intel has now reached 14nm with vertical control of its manufacturing process, which will give it economies of scale and an edge over AMD.
This cloud thing won’t last. All the data center build outs will taper out. Or maybe it will...
Don't forget that Intel is a 210 Billion dollar company, and AMD is mere 30 Billion. Intel can afford to take a lot of hits if there are minor hiccups in the market, and survive and overcome. After all, IBM, AT&T etc are still alive after all the setbacks.
The server market is still growing and Intel still controls 99% of this market. Everything else doesn't matter, unless AMD is able to make significant headway into the server market with Rome.