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Intel releases 1GHz chip
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March 8, 2000: 9:04 a.m. ET
Fastest processor will be used in HP, Dell and IBM computers
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NEW YORK (CNNfn) - Intel Corp. unveiled its fastest computer chip Wednesday, the Intel Pentium III 1 gigahertz (GHz) processor.
The chip will be used in new computer models by Hewlett-Packard (HWP: Research, Estimates), Dell (DELL: Research, Estimates) and IBM (IBM: Research, Estimates), and is expected to boost performance by 15 percent over the current fastest processors.
The launch comes on the heels of rival Applied Micro Devices' (AMD: Research, Estimates) release of its version of the 1 GHz chip Monday, the Athlon processor. AMD began shipping the new chip to customers Compaq (CPQ: Research, Estimates) and Gateway (GTW: Research, Estimates), while investors embraced the news, sending AMD's stock soaring 14 percent.
Intel said its 1 GHz Pentium III processor will help speed the performance of advanced applications including digital photography, video editing, music, voice recognition and 3-D gaming.
Also Wednesday, HP unveiled its new HP Pavilion PC, which features the Intel 1 GHz chip.
"Intel's Pentium III processor operating at 1 GHz is the highest performance microprocessor for PCs, enabling Intel's customers to ship the fastest personal computers in the world," said Paul Otellini, executive vice president and general manager of Intel's architecture group.
In trading Tuesday, Intel closed down 1-5/8 to 115-3/4 and AMD jumped 7-1/2 to 55. 
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