IBM's PowerPC development team plans to use several homegrown technologies to help boost performance of future PowerPC chips, which it will announce later this year. The chips will be capable of hitting 1GHz late this year, with IBM eyeing the 2GHz mark for late 2002.
Don't get too excited though - as Intel will still be pushing their own chips and will likely retain the pure "Mhz" lead. Of note, IBM may be including Altivec in their new processors:
IBM will also add a SIMD engine to some of its upcoming PowerPC chips. SIMD, which stands for "single instruction, multiple data," breaks up certain types of data to process it in multiple, parallel chunks. IBM has the option to adopt Altivec, the multimedia SIMD engine used now by Motorola. Parker declined to comment on whether IBM would do so.