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For most of its history, Advanced Micro Devices (AMD) has lived in the shadow of its rival Intel (INTC). There’s a good reason for this. AMD’s x86 foundation exists because Intel allowed it. Back in the 1970s, customers like IBM (IBM) did not want to rely on a single customer for their chips. So Intel licensed its x86 designs to AMD, making it a second-source manufacturer.
A couple of decades later, Intel stopped sharing its designs with AMD, forcing it to come up with its own designs after obtaining permission to continue using x86 architecture through a complicated legal battle. The forced innovation led to AMD disrupting Intel for the first time in the early 2000s, when it introduced 64-bit computing, seriously threatening Intel’s server market share.