Intel demonstrated its new chip Knights Corner that can operate at a sustained speed of one teraflop, and is capable of performing one trillion calculations per second.

This chip was shown at the SC11 supercomputing conference being held in Seattle.

The chip maker did not reveal all of the specs on the processor nor specify the exact number of cores, which definitely number over 50.

Intel general manager of technical computing Rajeeb Hazra introducing the physical chip, said, it’s not a PowerPoint, it’s a real chip.

Intel has already one customer for Knights Corner in Texas Advanced Computing Center. The company will begin installing the system next year which is expected to reach full operation speed in 2013. Initially, it will run at 10 petaflops.

The chip, which reportedly offers "double precision," foresees major competition from Nvidia GPUs.