Short for Intel/Micron Flash Technologies, located in Lehi, UT, it is a place where NAND Flash memory is created and improved. Basically, a place that makes TONS of money on a daily basis.
Person 1: "Man, I need a 4GB flash drive."
Person 2: "Doesn't IMFT make those things?"
Person 1: "Have you ever been to Utah?"
Person 2: "You mean were IMFT is?"