Earlier this week AMD completed the acquisition of ATI. According to AMD the ATI brand will live one:
Speaking in London , Hester told Reg Hardware the ATI name will continue to be used in association with what are now AMD's discrete graphics products and its chipsets.
This makes eminent sense if only because its allows Nvidia and its new arch-rival to continue to describe each other as the 'red guys' and the 'green guys'. If AMD dropped ATI, all GPUs - well, the ones that matter - would be all green, and how would anyone tell them apart?
Also interesting is Hester's remark that they will continue to use the ATI brand for Intel chipsets, suggesting they want to continue to offer such chipsets.