Like never. AMD's solution to solve the problem of finance and their troubles was to fire engineers and researcheres to cut cost. This killed their new products. It got delayed again and again. Sure, they're stepping up again, but it's very late. Glofo also seems to have enormous problems producing chips and has also added to AMD's issues by large.
AMD has shifted focus right now from high end CPUs and server stuff to low end APU type chips. They're trying to corner a market Intel hasn't gotten into yet.
Unless Glofo steps up the game quickly, AMD will find it hard to compete.