Intel plans to counter 65nm AMD "Antares" dual core processor with their 45nm "Wolfdale" dual core processor based on Penryn core architecture in Q3 '07. Wolfdale will contain 6MB of shared L2 cache compared to 512KB dedicated L2 per core (1MB total) and 2MB shared L3 on the Antares.
It seems like 45nm Penryn architecture is highly scalable and it will get Intel back into the MHz race next year. As such Wolfdale will be able to scale up to 4GHz clock speed comfortably and has a faster 1333MHz FSB to pair up nicely. It is interesting to note that IBM is ramping up frequency for their next generation 65nm Power6 design to over 4GHz in mid 2007 which is what Intel is trying to achieve as well for their 45nm Penryn since it will still take a while for Octo-core to be available.
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