from a manufacturing process, IBM has everyone beat.
They make some chips that no one else in the world can manufacture.
The ones that come to mind are the I/O chip in the profusion chipset from intel. What was funny is it has a big ol' COMPAQ on it, yet IBM was the only company capable of manufacturing it, it was that complex.
AMD has been a big supporter of a lot of IBM technology such as Silicon on Insulator (SOI), Low-k Dialectic, some new stuff like strained silicon too. that's probably why they teamed.
I doubt we're going to see higher end tech like hyper-transport and PowerPC 970 combine. The main announcment was for power saving technologies.
Maybe this could be a new PowerPC chip, but for future powerbooks while the 970 is for the desktops?