AMD EPYC Genoa-X Processor Spotted with 1248 MBs of 3D V-Cache

[Nhonho]

Well in the server market IPC does not really matter as much as efficiency and Intel really can't compete in general purpose compute.

The electrical consumption of a core increases exponentially with the increase of its clock rate. And, because of this, AMD has a big advantage against Intel: it's enough for AMD to lower the clock of its EPYC processors that it can launch EPYC CPUs with many x86 cores (64/96/128 cores) that, even thus, EPYC CPUs will still have a very acceptable performance and electrical consumption.
Intel would have to lower the clock rate of its CPUs a lot to be able to launch CPUs with 96 or 128 cores with an acceptable electrical consumption (and, thus, Intel CPUs would have very low performance in relation to EPYC).