They named it Teradisc and it looks like a CD/DVD. Don't be fooled! Space: 1 TB (1000 GB). How can this be done? Teradisc can record 200 DVD-like virtual layers (each storing 5 GB of data), with the help of a complex process. A regular CD has 1 layer and a Blu-Ray disk has up to 8. The reason nobody can add more layers on a regular CD/DVD/Blu-Ray disk is because when the light passes through these layers it becomes distorted and by the time it reaches the final layers it becomes almost impossible to read/write on the disk.
The guys at Mempile who made the disc say it will be available in 2010 and it's going to be really cheap.
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