Based on an AMD patent that I have seen, this could be a method that AMD has developed to create more cache coherency between RDNA 2's CUs, increasing cache effectiveness.
The overly simplistic way of putting it is that RDNA 2 CUs can use interconnected caches to obtain data without using external memory. This method also reduces the need for some data to be written multiple times across several low-level caches on CUs. These changes increase the effective size of low-level caches without increasing cache sizes and could allow GPUs to rely less on external memory, reducing VRAM bandwidth requirements.
If this is AMD's "Infinity Cache" technology, AMD is using an interconnect system (hence "Infinity") to improve RDNA 2's cache structure enough to reduce bandwidth needs. This allows AMD to save due space by using a smaller memory bus and save additional money by creating GPUs with fewer GDDR6 memory chips.
If this hypothesis is in any way accurate, Infinity Cache should allow AMD to meet bandwidth targets with less power consumption and at a lower hardware cost.
https://twitter.com/AlderAzevedo/status/1313279963911553025
Disclaimer, this patent may have nothing to do with Infinity Cache and Infinity Cache may have nothing to do with RDNA 2. Everything is unconfirmed right now.