According to even chipguy's estimates, Itanium isn't breaking even.
Yet.
If we look at the 2003 numbers AMD64 is obviously far from breaking even too.
I expect both IPF and AMD64 to break even in 2004. But if you add in the process/manufacturing side I am not so sure about AMD64 in 2004. IPF chips are made in fully paid off 130 nm fabs. In comparison AMD is struggling with ramping SOI for AMD64 while Athlon still pulls most of the freight when it comes to sales this year.