But revenue isn't a meaningful number here. Market cap should be today's value of expected future profit, not future revenue. So: What's Intel's profit? What's AMD's?
Revenue is "real" - it's the value of what Intel is actually selling.
Market cap is a guess - whether it's justified or not will be proven by actual revenue in the future. A 3x revenue difference is a nontrivial gap, especially when AMD would have to take over the entire processor market to reach the kind of revenue Intel is currently making (or make huge strides in GPU - either way)