In 2021 Intel made 79B in sales with 20B in profits while AMD did 16.5B with profits of 3.1B. Until AMD can run their own fabs they are not catching Intel anytime soon.
Intel 2021 GAAP Net Operating Income was $19.9 Billion
AMD 2021 GAAP Net Operating Income was $3.65 Billion
With Xilinx now on the books if nothing else changes AMD's Fiscal year 2022 will be 4.5 Billion Operating Income Net from about $21 Billion revenues.
Intel are the largest Semiconductor company on earth, although Samsung piped them in 2021 by just over $2 Billion revenue. $79 Billion vs $81.3 Billion.
Yes it would be a miracle if AMD caught Intel any time soon, but they are climbing the lader, 10'th in 2021, in 2022 they are likely to land 7'th, one behind Nvidia at 6'th, they will overtake Mediatek, Texas Instruments and Broadcom.
Running your own fabs presents its own problem, trying to stay ahead of the curve, As Intel are finding out, they are 2 or 3 generations behind TSMC, Intel will have to spend more money than they have to catch up and even then they still might not do it.
One other thing, Intel are $73 Billion in debt, AMD's debt is 0.