Comment by kbolino

I think this broaches the real matter, which is that nVidia's core business is GPUs while AMD's core business is CPUs. And, frankly, AMD has lately been doing a great job at its core business. The problem is that GPUs are now much more profitable than CPUs, both in terms of unit economics and growth potential. So they are winning a major battle (against Intel) even as they are losing a different one (against nVidia). I'm not sure there's a strategy they could have adopted to win both at the same time.

However, the next big looming problem for them is likely to be the shrinking market for x86 vs. the growing market for Arm etc. So they might very well have demonstrated great core competence, that ends up being completely swept away by not just one but two major industry shifts.