We got Intel’s executive telling us on the record that the demand for the 45nm Penryn generation dual-core CPUs has simply exceeded Intel’s expectations.
This is the company's official line, and the reality is that since Intel showed what the Penryn can do, everyone wants one. Intel can't complete its switch over from 65nm to 45nm in a month, it will take a few quarters and 45nm will only overtake the 65nm parts in Q4 2008. It does take time for this big transition and Intel is aware of that.
The only reason AMD doesn’t make a big deal of Intel’s weak 45nm execution is that AMD currently can't get its 65nm parts working at reasonable speeds, and its 45nm process is still hidden behind the 2H 2008 company line.