According to The Inquirer, AMD told South African journalists that they have a two year load of Intel, in terms of technology at least. Apparently they weren't impressed with what Intel had on offer, and were also disappointed that Intel didn't rise to the dual core duel laid down by AMD.
Henri Richard:

"Intel likes to fight battles when it's their own rules and their own game. They're not very good fighting under other people's rules or games. I think that's why they decline the opportunity to compete," he said.

He said AMD had always fought for open competition. "There's more in five brains than one," he said. "We could have locked up AMD64, but we shared it with the world, which benefits not only AMD, but all the other players in the market that have been suffering under Intel domination."