Yes, it is my belief that AMD will file bankruptcy because Intel has become such a powerhouse to the world of technology and is not planning on stopping anytime soon. I believe that AMD is behind Intel CPUs and does not have enough funds or knowledge to get ahead or even near Intel. I think that it is in their best interest to file for bankruptcy.
AMD is gonna have to pull a rabbit out of their hat just to catch up to Intel; let alone get in front. If you need the pc now, I'd suggest intel. It's going to be performing well for quite some time. Otherwise making any choice based on promises, forecasts and so forth is really risky.
No, AMD will not necessarily fire bankruptcy. They're in a bad place right now, but all hope is not lost. They need to find a new way to differentiate themselves in a highly competitive technology market. Right now others are leaps and bounds ahead, but it doesn't have to spell disaster for AMD.
While it is certainly true that AMD have lost a foothold in the area of CPU development it seems very unlikely that they will become bankrupt. The finances of the company are still in reasonably good shape and they have the option to expanding more aggressively into the other areas they currently occupy, such as consoles.