I can't contribute much to this discussion due to bias and NDAs, but I just wanted to mention, technically HIP is our CUDA competitor. ROCm is the foundation that HIP is being built on.
replies(3):
However the amount of resources at stake is incredible. The delta between NVIDIA's value and AMD's is bigger than the annual GDP of Spain. Even if they needed to hire a few thousand engineers at a few million in comp each, it'd still be a good investment.