We talked to people close to ATI, the company that makes its living off of GPUs and we have learned that at this time, ATI has no plans for the company's answer to Fermi.

There are a few reasons and the first would be that Fermi is yet to ship and become available in reasonable quantities. The second is that Geforce GTX 480 is more like the queen of GPUs rather than king of the hill, as Radeon HD 5970 X2 remains the fastest card on the market.

 
Since it's unlikely that Nvidia can ship its dual Fermi in the next month or two, it looks like Radeon HD 5970 X2 remains the fastest card and to top it off - it costs only slightly higher than the Geforce GTX 480, which is as you know slower.

It looks like Nvidia won't have enough Geforce GTX 480 and 470 cards before May time and that ATI has all the time in the world to prepare and react.