AMD has been talking up its CPU/GPU combo chip codenamed Fusion for some time now, but it might not see the light of day for another three years, according to the latest rumor.

Initially expected in late 2008 or early 2009, Fusion in 45nm form was ultimately scrapped due to design challenges. The same might be happening with 32nm, says news and rumor site Fudzilla, who claims AMD has now decided to wait until it moves to a 22nm manufacturing process, currently scheduled for the second half of 2012.

That sounds like a long time to wait, especially as Intel puts the pressure on with a CPU/GPU chip of its own (Larrabee). For that reason, it's possible AMD may opt to follow in Intel's footsteps and release Fusion constructed with a 32nm IGP and CPU as two separate dies on the same chip. If AMD went this route, it could conceivably have Fusion parts ready by the second half of 2010, Fudzilla says.