any anticipated changes in the graphic card industry?

The first AGP graphic cards emerged in mid 1990s. The chips were produced by nVIDIA, ATI, Voodoo, Matrox and a few other companies, but by the third or fourth generation of AGP cards, only nVIDIA and ATI remained. Since then no other company has been able to join the race by producing a graphic card which could run modern games on high graphic settings. Perhaps as a result of this, the graphic card industry (for PC gaming) has become based on somewhat predictable annual production cycles of ATI and nVIDIA. Each of these companies develops and releases some high end, midrange and low range graphic chips every 12-16 months and then graphic card manufacturers produce the cards.

The focus of my curiousity is whether there are any noticeable changes on the horison or will the era of separate graphic cards and AMD/nVIDIA monopoly with their "traditional" product cycles continue for another five years?

The reason I am curious is that ATI's and nVIDIA's success has probably relied to a great extent on the sales of mid range and low range cards, but now it seems that after a few years another solution might also become available for average PC gamers, businesses and people buying "multimedia" PCs. According to some sources AMD has started working on a solution to combine CPU with GPU (supposedly AMD acquired ATI for this purpose). It is known that Intel has become interested in graphics too since last year (apparently after the great success with Core 2 Duo CPUs) and they have hired graphics specialists and promised to release much more powerful integrated graphic chips by year 2010-2012.