... with a huge enormous debt. Huge companies do collapse too, just with a larger bang.
Intel has enough cash and short-term investments to cover almost all of that long-term debt. They're doing ok from a financial standpoint, I mean, their EBIT:debt interest is like 50 times what it needs to be to just be "sustainable". The problem is the future, where we haven't seen any truly novel, forward-marching game plans.
AMD each cycle has pushing out something just incredibly better. Intel's counter seems to have been really, really weak (compare the jump from, say, the 7700K -> 9900KS vs, the 1800X -> 3900X --- AMD have been the ones hammering the envelope into submission).
On Ryzen, AMD raising clocks across all Zen lines, and raising core counts year over year, along with a more mature AM4 platform, means that Zen3 could be the point where they finally take the gaming crown from Intel. If Intel can't keep the IPC x GHz crown, they then have only inertia keeping them up. WRT HEDT AMD owns it for most tasks. But there are still niches for Intel. On the server side I think corporate inertia and contracts will make that a very hard road still for AMD despite the clear advantage it has.
Long story short, if you started both companies today with equal cash and no contracts, Intel would be dead on arrival.