With the addition of the Xe-HPG models, Intel is looking to cover the gaps left in the mid-range and enthusiast gaming sectors. The upcoming gaming GPUs wil integrate hardware-level ray tracing and will be produced by external foundries (TSMC?). They are also rumored to get GDDR6 VRAM and may prove decent competitors for Nvidia's RTX 3000 / AMD's Big Navi GPUs.
https://www.notebookcheck.net/Intel-unveils-Xe-HPG-mid-range-and-enthusiast-gaming-GPUs-with-hardware-ray-tracing-launching-in-2021-Nvidia-and-AMD-in-trouble.485596.0.html