AMD
Advanced Micro Devices, Inc. (AMD) is an American multinational corporation and fabless semiconductor company that designs, develops and sells computer processors and related technologies for business and consumer markets.
AMD's main products include microprocessors, motherboard chipsets, embedded processors, and graphics processors for servers, workstations, personal computers, and embedded system applications. The company has also expanded into new markets, such as the data center, gaming, and high-performance computing markets. AMD's processors are used in a wide range of computing devices, including personal computers, servers, laptops, and gaming consoles.
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The only way this works is you make your products obviously better in terms of price/performance in the segments you compete in. You've sacrificed the effect of a halo tier product on mindshare to your competitor, so your value proposition has to completely undermine nVidia.
However, nVidia has a very big war chests. They could give the 50xx cards away for free and not really care, as long as it got rid of the opposition.
I personally think this is a suicidal strategy.
Then I guess people have short memories. (Polaris, Vega, Navi1X).
Polaris remains one of the most popular AMD dGPUs to this day.
ATI have had better products than their competition in the past, and yet marketshare barely budged.
That's not a high bar. AMD haven't really had a big hit GPU since they shifted to GCN. RDNA was looking to be revival, but hasn't really been competitive enough to shift the consumer mindset.
RDNA 2 has been plenty competitive. NV22 has done well, 32 has sold exceptionally well, particularly in CN, which heavily leans towards Nvidia GFX.
It's been harder to find the same sort of value proposition as the RX480, 580 and GTX 1060.