All yours clouds?
Intel is getting used to being the big chip on the data center campus, and it is not about to let upstart vendors peddling other chips (that means you, Advanced Micro Devices) or architectures (that means you, ARM Holdings and friends) move in on its server turf. Not without a serious fight, at least, and certainly not in the …
It will surely mostly come down to how much crunch they can get per kW/h
The Intel architecture is intrinsically inefficient compared to ARM. With Windows 8 coming to ARM, and ARM servers coming to market, I wouldn't bet on Intel x86-64 being the dominant server architecture a decade hence.
Intel won't necessarily lose out - their process know-how ought to let them make the most efficient CPUs, even if they lose their stranglehold on the architecture.