GPU-aware compiling?

[Tomasz Chmielewski]

Recently I've been reading about General-Purpose Computation Using 
Graphics Hardware - http://www.gpgpu.org - and it seems that GPUs can 
bring quite a good performance when compared to the CPUs.

In other words, a graphics chip on the graphics card can make really 
heavy computations, and it's easier and cheaper to buy a couple of 
top-performance graphisc cards than to buy a multi-CPU machine (which 
are quite expensive).

Do you think - theoretically - that a compiler could help compiling 
software, which would in turn use the power of the GPU to make some of 
the computations?

Like now we have compiler options like "-mmmx  -msse  -msse2 -msse3
-m3dnow" - would it be possible to optimize the code of the binary to 
use the GPU with "-with-nvidia-gpu" or "-with-ati-gpu"?

I would like to hear some theoretical discussion about that.