This is an interesting event, C|Net is reporting. Apparently, AMD has hired a major engineer that designed the Itainium along with 8 other Intel employees. While not the only high-ranking designer behind the Itanium line--Intel argues it still has a deep bench--Naffziger played a leading role. He introduced two major Itanium models to the world at the International Solid State Circuits Conference, the "McKinley" version in 2002 and "Montecito" in 2005. This could be interesting to see what developments this gives AMD down the road. Linky.
What I think is whatever AMD does but future will be Intel. Reason:Money; Intel can spend more money on R&D's of chips then AMD.