Even if AMD does go, do people really think the ip's the own will disappear? Some other company will buy whats left of th egpu or cpu divisions and maybe continue. Let's hope it's not Nvidia who does that though.
I'd rather if Intel, MS or Samsung took over and provided some much needed funding.
Problem is some of the Ip's are crossed licensed. It would be very difficult for both AMD and Intel if either changed hands.
AMD are not dead and buried yet.