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AMD Radeon RX 9070 XT Benchmarked in 3D Mark Time Spy Extreme and Speed Way
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I am guessing they simply don't see enough money in the consumer dGPU market. Their focus seems to be squarely on enterprise GPUs and powerful iGPUs for laptops.
One could argue this is a very reasonable strategy.
That could be the case, but then again, why bother with consumer market at all? Just for marketing doesn't sound that much appealing - cheap and power-hungry. I have a feeling that they are still trying to compete.
I am sure they are trying to compete, but it seems their focus is really on the iGPU part for consumers.
Let's see how things play out. I would only be happy to see both AMD and Intel offer compelling products (price and functionality) to compete with Nvidia.