http://www.theinquirer.net/inquirer/news/851/1050851/intel-design-playstation-gpu
The article writer's source is apparently someone at the Sony CES booth.
It seems Sony will use an Intel GPU (Larrabee) in their next console. This makes sense on Sony's part since their current Nvidia GPU is behind the Xbox's, and it makes sense on Intel's part because they need a console to encourage developers to target the new GPU, since it will have its own API in addition to the usual OpenGL and DirectX. Sony may also be considering an Intel CPU (unlikely, because of the investment in Cell and its architecture), which would have significant cost and performance advantages if on one die with the GPU. The date 2012 is mentioned for both Microsoft and Sony's next consoles.
The article also repeats that the other two next-gen consoles are likely to have AMD GPUs. Nvidia won't have any design wins, likely because they had a bad relationship with MS and an underperforming part with Sony.
Very interesting considering my previous topic.