With all of Intel's talk about the up coming 45nm processors from them, we haven't heard much from the other side of the camp. However, IBM and AMD, along wth Sony and Toshiba, have all announced details concerning their joint efforts at bringing 45nm technology in 2008. Using similar techniques as Intel is using, relying on "high-k metal gates", they'll be replacing certain components of the transistor in order to allow it to be shrunk even further.
Interestingly, IBM says that development of the 45nm process is able to happen without requiring a large amount of new tools or changes in manufacturing, which will have a huge impact on how fast it can be spread to various manufacturing facilities around the world. Will AMD have a 45nm CPU in 2008?