Here is a paper published by Instat's Microprocessor Report that goes into details of Niagara 2.

"Niagara 2 processors, like SPARC64 VI and POWER6 and Itanium 2 9000 processors, aim to show that even currentdual and coming quad-core 64-bit x86 processors do not adequately address all computing needs. But otheralternative high-end server processors are trying to attain levels of targeted performance, scalability, and reliabilitythat commodity processors cannot economically reach. What sets Niagara apart is Sun’s goal of expanding thecomputing spectrum with a new approach to performance efficiency. " 

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