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Windows 11: No Trusted Platform Module? Many AMD and Intel processors can run Microsoft's new OS without a dedicated TPM 2.0 chip [notebookcheck.net]
If your machine does not have a dedicated TPM chip, your CPU may have an equivalent built-in. Specifically, Intel integrates Platform Trust Technology [intel.co.uk] (Intel PTT) in its modern processors, while AMD uses something called PSP fTPM [twitter.com]. Many motherboard manufacturers disable these by default, but you can enable them from within your motherboard's BIOS. Every BIOS is different, so we would recommend reading your motherboard's manual first. For example, Gigabyte stored the AMD PSP fTPM setting under Advanced CPU Settings.
In short, you do not necessarily need to rush out and purchase a TPM chip to run Windows 11 on your desktop machine. Hopefully, Microsoft clarifies this in its Windows 11 system requirements at some stage, because Intel and AMD do not readily market their PTT and PSP fTPM technologies as TPM 2.0 alternatives. Microsoft has also released its inaugural Windows 11 Insider Preview build [notebookcheck.net] and has updated its processor requirements to accommodate the Zen 1 and 7th Generation Core families [notebookcheck.net].
See also: WhyNotWin11: A tool that is much better than Microsoft at detailing why a PC is not Windows 11 compatible [notebookcheck.net]
Users get Windows 11 running on a Lumia 950 XL and Raspberry Pi 4 [xda-developers.com]