Light Peak Is supposed to become the next generation I/O port delivering 10Gb/s transfer speeds that could even reach 100Gb/s at some point. To put it into perspective: At 10Gb/s, you could transfer a full-length Blu-Ray movie in less than 30 seconds.
Intel should the current state of Light Peak at the IDF 2009. Engadget reports today that they have learned from a reliable source that Apple initiated the Light Peak technology and ask Intel to build it.

Apple is supposed to ship Light Peak port (still a code name) in Apple Mac computers by Fall 2010.
Light Peak is supposed to get rid of multiple connectors as well. Ethernet, USB, Display Port and FireWire could all become a thing of the past pretty soon.
Light Peak is not just for Apple of course. More details about the current state of Light Peak can be found on the Intel site.