I don’t buy this completely. AMD’s 64-bit humiliation of Intel wasn’t that far in the past, and they knew GPUs were important. They could have hedged their bets

I don’t buy this completely. AMD’s 64-bit humiliation of Intel wasn’t that far in the past, and they knew GPUs were important. They could have hedged their bets a bit more on the basis of sound business management without incurring shareholder wrath.