Xe is the name for Intel's GPU ISA . Which is used for both integrated graphics and their discreet GPUs.

Ryzen is AMD's line of processors. Of which they've carved out a piece of the low-end with their integrated graphics that are very price/performance competitive with Intels.

With this deal Intel will make at least some of their processors with Nvidia graphics in place of their own. Making Ryzen way less competitive to Intel/Nvidia processors. Also puts into question the future for Intel's Xe products. Intel likely already given up on their own discreet GPUs. For integrated graphics Xe might also be at stake as they'd compete with their products that use Nvidias tech. It might make more sense to only focus on their Nvidia based products.