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The way AMD is positioned it is a single breakthrough from becoming a dominant CPU force again, the way the HD 4000 series brought nVidia back to reality and AMD from being a power hogging joke in the graphics department to a force to be reckoned with. Reed knows what he is doing, and I have to wonder what is floating around deep in the bowels of the AMD R&D labs. With more and more programs becoming GPU accelerated, if not completely GPU based, as well as higher resolutions taxing the GPU in games before a CPU maxes out, the age of having a monolithic CPU is starting to come to an end. AMD knows this, and is where the heterogeneous architecture and powerful graphics cards will start to shine.
If anything, I expect Intel to be waiting in the weeds for AMD to come out with a card which slaughters nVidia so they can buy them on the cheap.