Forbes has some interesting things to say about AMD, namely that in the next few years and beyond the company will surpass Intel in growth and performance, making them much more valuable. Basing this on product releases and technology advances, the prediction also includes that AMD's 45nm manufacturing will be well ahead of Intels and that it will take a long time for Intel to catch up.

”Analysts are also predicting that Intel will not have the ability to catch up to AMD until Intel releases products on new 45nm fabrication processes, which isn't expected until 2008 claims Forbes. We reported earlier that AMD is transitioning its Fab 36 in Dresden to mass produce its next generation processors (both dual-core and quad-core) on a 65nm process. Intel on the other hand, has demonstrated that it has successfully started working on 45nm technology but its main production will be 65nm through to 2008.”
This is an interesting topic. Intel isn't sitting idly by while AMD makes strides in technologies, of course, and has often been an industry leader. The impact of such advances by AMD are clear, from lower CPU prices to more competition from Intel to much more. We won't have to wait all that long to see whether or not this pans out.