Business Standard had an interview with NVIDIA CEO Jen-Hsun Huang, you can read it over here. Here's a snip:
Intel is looking seriously at the GPU business. How does NVIDIA plan to tackle the same?
Intel’s interest in entering the GPU market is the ultimate compliment. It shows we are doing something so fundamentally right that they can’t help but follow! Of course, Intel is an extremely smart company with huge resources. Hence, the bar is set very high for us to compete with them. Our strategy here is simply to focus on the areas where we know our technology is needed and Intel cannot compete because it does not have the expertise or the legacy to go there. Our success lies in the intensity of our focus — we have many products but just one business, which is visual computing. No other company in the world can say this.