Two of my colleagues use high-end AMD GPUs to train RNNs and transformers with tensorflow-rocm. There are still some nasty bugs (e.g. [1]), so it is currently not for everyone. However, given how far they have come compared to 1-2 years ago, it is very likely that in a year or so, they are a real competitor to NVIDIA for compute. That competition was long needed.
[1] https://github.com/ROCmSoftwarePlatform/tensorflow-upstream/...