ATI today introduced a new specification for high-speed DRAM for graphics. Called GDDR3, this is the "first DRAM designed specifically for a market before an industry standard is available".
No, ATI is not going it alone: it has assembled support from Micron, Infineon and Elpida for GDDR-3, and it it is targeting graphics DRAM conforming to the spec for sale in 2003.
So what is GDDR3? Details are sketchy to say the least, with ATI referring to a "third generation of DDR for graphics".
Here's another quote: "GDDR3 is the DRAM that will fuel the continued trend in graphics towards life-like virtual worlds."
And another, with a little more meat: "While today’s DDR DRAM allows for speeds of up to 400MHz, GDDR3 was designed to initially provide memory clocks of 500MHz, with headroom for up to 800MHz." ®