> AMD has inexplicably decided not to invest in software
Perhaps they were distracted by dismantling Intel's CPU hegemony? I wouldn't fault them for that, fighting 2 Goliaths simultaneously isn't a sound strategy.
AMD's acquisition of ATI was a net detriment to AMD for at least a decade. They ended up with a ton of debt, had to sell off their fabs but still had to use those fabs even after they were uncompetitive, and struggled to field high-end products in either CPU or GPU product lines. They didn't start to reap significant benefits from having both product lines under one corporate umbrella until they started scoring design wins for game console SoCs, and those provided sales volume but not much profit margin.