According to my observations, AMD and Intel are getting closer to NVIDIA in the process of making integrated graphics.
Barring any surprises, within three years, one of the three companies will inevitably see its stock price multiply by five times. The current CPUs, after canceling hyper-threading technology, have adopted a new architecture, and it is very likely that future consumer-grade desktops will not require a GPU, but only a CPU.
AMD: The GPU performance of high-end APUs has 'approached' the range of mobile/entry-level discrete graphics.
A representative piece of evidence from the past six months is that devices based on AMD Strix Halo / Ryzen AI Max+ 395 are close to the RTX 4060 range in GPU scores on 3DMark Time Spy (of course, it depends on specific power consumption/cooling settings).
This indicates that under the conditions of 'limited power consumption + integrated packaging', the GPU part of AMD's APU has already reached the threshold of traditional mid-range discrete graphics.
Intel: The Arc architecture has been applied to integrated graphics (Xe-LPG), with functional characteristics closer to discrete graphics.
Intel's Meteor/Arrow Lake platform integrated graphics are described as based on Xe-LPG (sharing the same design philosophy as Arc discrete graphics, emphasizing energy efficiency), and specifications with ray tracing units and other more 'discrete-like' features have emerged.
This means that Intel's integrated graphics route has shifted from 'just enough to light up the screen' to continuously aligning with gaming/creation capabilities.