OpenSUSE "Factory" up to now has referred to the development version of the openSUSE Linux distribution while being announced by SUSE today is that it's also going to serve as an independent distribution under a rolling-release development model.
OpenSUSE Factory will still serve where openSUSE development takes place, but it's also going to aim for being a distribution on its own as a "tested and stable fresh-daily bleeding-edge distribution."
SUSE sent over the announcement this morning without any NDA/embargo and is apparently announced but at the time of writing I can't find a web page for the news release, so I've embedded it below for convenience.
openSUSE Factory Moves to Rolling Release Development
Always-ready Factory distribution makes it easier to preview and test openSUSE Linux OS
July 29, 2014 – The openSUSE® Project today announced the development version of openSUSE (called Factory) has become an independent distribution using the “rolling release” development model. This means Factory is no longer just the development branch of openSUSE – the reliable, modern and easy-to-use multi-purpose Linux operating system – but a tested and stable fresh-daily bleeding-edge distribution.
The Factory rolling release model will shorten the stabilization process in openSUSE releases and eliminate the need for pre-releases or “milestones.” In the old openSUSE development model, an army of packagers would shoot new packages and updates to a playground called Factory, with a relatively small team taking care of the integration process of all those packages, which sometimes took a long time to stabilize and release. The new Factory model balances responsibility among packagers, testers and end users while putting more emphasis on automated quality assurance. As a result, openSUSE Factory becomes a reliable, always-ready working distribution.
“With this new openSUSE development model, users get the latest free software packages without waiting for the next release,” said Richard Brown, openSUSE board chair. “With a daily fresh Factory distribution making it easier for those who want to preview and test, we hope to see more users and contributors, leading to faster fixes and even higher quality. Factory is critical as it provides the base technology for openSUSE and SUSE® Linux Enterprise, which is used by tens of thousands of organizations around the world.”
For more details about openSUSE, visit www.opensuse.org. More on openSUSE Factory can be found at en.opensuse.org/Portal:Factory, with current test results shown at openqa.opensuse.org.
There's now an official announcement live at news.opensuse.org