I think you're onto something here. AMD is likely seeing the end of the road for their CPU business within the next decade, since it will run up against physics

I think you're onto something here. AMD is likely seeing the end of the road for their CPU business within the next decade, since it will run up against physics and truly insane cost structures that will come after 5nm. At the same time we're far past the practical limit wrt ISA complexity (as evidenced by periodic lamentations about AVX512 on this site). The only real way to go past all of that right now is specialized compute, reconfigurable on demand, deployment of which is hampered by the fact that it's very expensive and not integrated into anything, so the decision to use it is very deliberate, which in practice means it rarely ever happens at all. Bundle a mid-size FPGA as a standardized chiplet on a CPU, integrate it well, provide less painful tooling, and that will change. Want hardware FFT? You got it. Want hardware TPU for bfloat16? You got it. Want it for int8? You got it. Think of just being able to add whatever specialized instruction(s) you want to your CPU. I'm not sure this is worth $35B, but if Lisa Su thinks so, it probably is. She's proven herself to be one of the most capable CEOs in tech.