Thursday, July 27 12:00 AM ET

AMD, ATI Merge to Form DAAMIT

Sunnyvale, CA - AMD CEO Hector Ruiz said that with the merger of AMD with ATI the new company would be called DAAMIT.

"We wanted to keep the letters from each company, but didn't like the looks of AMDATI. It lacks imagination. Our marketing team found DAAMIT appealed most to our focus groups," said Ruiz.

Ruiz noted that DAAMIT is an ancient Incan word meaning "fleet of foot, speedy." He said, "That's the kind of company that we want to be."

A representative from Intel chuckled when told of the new name, "We applaud this as a bold move by the company. We can't wait to see what they do next."

Customers were pleased by the move. "That's what I usually say when I load new drivers on my system, so it seems appropriate," said Kyle Westfall of Wausau, Wisconsin.

When asked if the company would continue its focus on the gaming market Ruiz said, "Yes, if people think of gaming, we want them to think DAAMIT!"

Rumors that DAAMIT will make fully integrated computers not compatible with third party hardware brought threats of litigation from Apple for patent infringement.

DAAMIT's stock was down on the news.