AMD Spent a Decade Losing. Then It Became More Profitable Than Intel. (opens in new tab)

Intel spent most of the 2000s and 2010s defending a position it had already won. It held roughly 80 percent of the x86 processor market, supplied nearly every major PC manufacturer, and ran the world’s most advanced chip fabrication plants. By any conventional measure, it was the dominant company in one of the most important industries on earth. And it was quietly being eaten alive by its own success. By 2023, AMD, the perpetual second-place competitor with a fraction of Intel’s workforce and...