To be honest I really have no idea about the whole bankruptcy thing. I
know there are many people (like one post above) who agree that it is
inevitable. I know far too little to give any judgment on that. It is
a very interesting topic however. I heard one crazy rumor a while ago,
claiming that IBM was interested in buying them out. As I know very
little about IBM I don't know how this would be in their interest. I
believe AMD was using some of their production facilities. There were
cases in history where CPU technologies were bought by others (I think
Intel had something to do with DEC Alpha). Perhaps someone would be
interested to incorporate some of the designs into their own products.
I would rather not speculate on that.

On the other hand, there are very persistent speculations of Intel's
interest of keeping AMD alive to avoid monopoly problems. But then
again, people have been pointing out that some major software
companies have gone through that without major problems.

It will be very interesting to see how it all turns out.