In its Q3 earnings, Intel disclosed that it is now shipping Intel's first discrete GPU - DG1. Codenamed Intel Iris Xe MAX, the GPU is set to arrive in ultraportable laptops and designs. It is based on Xe-LP design, which is Intel's GPU configuration for iGPUs and low-power models. However, to satisfy the needs of gamers, Intel will not be good with just this GPU configuration. The company would need something faster and ore power-hungry to power the highest framerates and highest resolutions. Enter the world of Xe-HPG DG2 GPU. Made for gamers, it features all the hardware-enabled features you would expect in such a GPU, like raytracing, etc. This GPU is manufactured outside Intel's fabs, most likely at TSMC's facilities. Right now, this GPU is in the alpha phase and is booting in Intel's labs, meaning that the final silicon is just a few months away.
In my opinion a third player in the GPU market will help spur further innovation.