AMD's new architecture should be coming in the second part of 2011. This is AMD’s only hope to catch up with Intel as Nehalem is about to get replaced in late 2010 with new architecture codenamed Sandy Bridge.
The trouble is that when AMD goes to 32nm with Bulldozer Intel should be getting ready to launch its 22nm shrunk version of Sandy Bridge codenamed Ivy Bridge.
Bulldozer should be as big leap as K8 and K10 were in their days and both the market, investors and company do expect a lot from it. GlobalFoundries will be ready to manufacture these CPUs as of second part of 2010 but it’s the AMD that they will have to wait, as it’s very unlikely that they will have production silicon that early.