Mercury noted that AMD has grown its share in the server processor market against Intel with its share growing by 3.6 points to 17.5 per cent against Intel in the third quarter from the previous three months.

While this is good news for AMD and its 14th consecutive quarter of share growth in the category it is also on the back on a shrinking market.

Dean McCarron, head of Mercury Research, said CPU market share movements in 2022 have been largely reflective of both companies experiencing sales slowdowns at different points and varying magnitudes. These downturns have been happening in response to system vendors trying to sell off existing inventories of chips before buying more from AMD and Intel.

This dynamic was more obvious in the notebook processor market in the third quarter and not as much for CPUs going into servers and desktops:

He said that the server market was one place where inventory likely didn't change the share outcome.

“We note the size of AMD's gains this quarter isn't consistent with historical trends and Intel likely had some inventory-related declines in their server results, which probably under-states Intel's share of the end market,” he said.

While server CPU shipments declined in the third quarter overall, it was the notebook market that took the biggest hit, "with every quarter thus far in 2022 posting worse than 30 percent on-year declines in shipments," according to McCarron.