I can imagine that every cloud hosting provider expands their fleet of machines, and also retires and replaces some of it.

If the expansion and replacement will mostly involve AMD and ARM-based solutions, I won't be surprised.

Of course Xeons are going to stay for a relatively long time, because some customers are deeply invested in them, e.g. relying on AVX512 heavily, etc.

I also don't think that Intel is going to go under. AMD was in the position of a second-rate player for decades, and had expensive failures, too (remember Bulldozer?). So I expect them to regroup and show us something amazing in, say, 5 years. But one thing they are.going to lose: their sweet big margins.