AMD strictly moderated (AMD)

[CombJelly]

"but I think AMD is giving deeper discounts to the OEMs than they are their distribution partners. "

Almost certainly. HP is likely the biggest beneficiary, they are by far and away AMD's biggest customer. And HP has reciprocated. If you look at their consumer lines, they no longer have one model for AMD and several for Intel like last year. Every model gives you a choice of AMD or Intel. Including the notebooks. Makes it easy to do a side by side comparison. HP recently introduced an AMD-based desktop and a notebook for their business line. In another couple of quarters it might look like their consumer offerings. Given the price differential, that would make HP de facto exclusively AMD.

Maybe that is why AMD is putting in all that capacity.