AMD has had its ups and downs. The Ryzen CPUs rooooool (sorry, but I heard that) and are also in short supply, so on balance, not much of a threat to Intel in the short- and middle- term.
AMD was building a giant fab in, hmm, I think Maryland, some years (less than ten?) ago, their finances cratered for a while, that was cancelled, they couldn't quite finish up their then-current chip development, then they got new talent, including that CEO (Asian, engineer, two X chromosomes), and started to turn it around.
They rely on TSMC I think (same as Apple), which has the best manufacturing tech now, but doesn't have the kind of capacity (yet) that Intel has.
AMD was on the ropes and sold the fabs to Global Foundries, which was financially backed by Saudi Arabia, I believe.
What Lisa Su has done with her company has been incredible. She thinks outside the box and for financials, they are always conservative (underpromise then overdeliver). Of course, she’s an engineer, too.
I bought AMD at $2.15 and rode it up most of the way.
It is beautiful we have another strong US chip company.