Intel will get to 22nm late next year, but AMD plans an eight-core 32nm processor codenamed Komodo. It is based on the Bulldozer core and it will have DirectX 11 capable GPU.
This of course comes after the 2011 Bulldozer launch, a new CPU architecture that will test the 32nm process at GlobalFoundries. Zambezi is the first Bulldozer to launch in four- and eight-core versions, but this one won' have an integrated graphics core.
AMD also plans the Trinity, a mainstream Fusion processor based on the Bulldozer design, with up to four cores and Krishna, a Bobcat-based processor in 28nm. We will dig a bit deeper and mention these processors in greater detail some other time.
In 2012 Intel will have many 22nm CPUs out, including many dual- and quad-cores, but its Atom will stick only with 32nm, unless Intel speeds things up. We will have to wait and see but Komodo might be the world's first 8 core CPU with decent graphics.
Update: Turns out that Komodo is a CPU rather than APU and that DirectX 11 graphics is just a part of the platform and not inside the CPU. We apologize for the inconvenience.