I love the way these people use present or even past tense for the
future to make vapour sound more like silicon. The usage is now
spreading from corporate press-releases to regular media.
The proper conjugation here would be "Merced, which Intel and H.P. are
shitting bricks trying to develop."
You all realise, of course, that Merced will not live up to any of the
expectations. It will not be competitive with top RISC chips and it
will not run all x86 apps.