MS buying AMD is plausible, but I wouldn't bet on it, I have a hard time believing that Satya could tie such an acquisition into its productivitiy first strategy and its overall more agnostic stance on platforms.
To me, GAF is infamous for its business literacy. The one major thing that everyone who thinks buying AMD is as easy as buying their equity, likely roughly their market cap $1.6-ish B, is that the buyer also inherits all of AMD's debt which is roughly $3.0 B.
Considering the above, the acquirer, if on the smaller-side (e.g. Nintendo or Sony Vs. the likes of MS or Samsung) would have a drastically altered capital structure and future viability. So the point I'm getting across is, AMD would have to be purchased by a firm (not Nintendo or Sony) who is large / healthy enough not to be negatively encumbered by AMD's large amount of debt.
Cheers.