Sun Microsystems is offering the first chip from its recently-launched commodity chip division – billing it as the world's fastest microprocessor. 

Code-named Niagara 2 but officially called UltraSparc T2, the new chip is expected to bump up against IBM, Intel and AMD in the microprocessor space.
The new product will be launched later today (10h00 California time) in a live Webcast from Sun's head office in Silicon Valley.
The company also plans to announce a number of additional chips this year, including "Rock", a high-performance chip that would compete with Itanium.