There is a very excellent interview up with Marty Seyer, a senior VP of AMD, in which they focus primarily on AMD's advantages in performance per watt and up and coming technologies. Virtualization wasn't mentioned as much as you'd think, but was mentioned made it plainly obvious what AMD intends:
Seyer: Virtualization is going to be big in 2006. We're going to hear a lot about it ... we already are hearing a lot about it. Virtualization is going to be broadly analyzed and adopted in 2006, but the ramp is 2007-2008 for real virtualization. So on one hand, it's hot.
He talks a lot about the semiconductor industry as a whole, and how AMD's primary focus will continue to be performance-per-watt, which is probably a good idea as it has treated them so well thus far. It is a very interesting interview, well worth the read.