I'm not quite sure whether the biggest news here is the announcement of a new high-end x86 architecture from AMD or the fact that ARMv8 is getting the same treatment.
Since we're talking about a replacement for Bulldozer, this is an entirely different class of beast from the "Puma+" and Cortex-A57 cores in the first SkyBridge parts. AMD's execs noted that these are high-frequency, high-performance CPU cores that will span the range from laptops to desktops to servers—and not just "microservers." We don't know exactly how big they'll be compared to Bulldozer or, say, Haswell. The smartest play might be to aim for something a little smaller than those cores, but that's the basic class of performance they're undoubtedly meant to achieve. AMD is returning to its roots, aiming to produce a best-in-class big core.
Well, two of them, this time.
AMD used the code-name "K12" to refer to the ARM core. I'm not clear yet whether that name also applies to the x86 core.
These two CPU microarchitectures will be, in the words of CTO Mark Papermaster, "sister cores." (Papermaster came to AMD from Apple, and he managed to lure CPU architect Jim Keller from Apple, too, shortly after Keller led the development of Apple's own 64-bit ARM core.) Keller explained during this morning's Q&A session that the new cores will share more than just pin compatibility. He said they will be "compatible at the pin level and inside." That likely means that the ARM and x86 SoCs based on these new cores will share the same internal plumbing—things like the I/O ring around the edges of the chip and the last-level cache. AMD's design teams will then be able to fit, say, four ARM cores or four x86 cores into the space on the interior section of the chip.
Presumably, these sister x86 and ARM cores will perform about the same, but they evidently are not just two variants of the same microarchitecture adapted to different ISAs. Keller was very complimentary about the ARMv8 ISA in his talk, saying it has more registers and "a proper three-operand instruction set." He noted that ARMv8 doesn't require the same instruction decoding hardware as an x86 processor, leaving more room to concentrate on performance. Keller even outright said that "the way we built ARM is a little different from x86" because it "has a bigger engine." I take that to mean AMD's ARM-compatible microarchitecture is somewhat wider than its sister, x86-compatible core. We'll have to see how that difference translates into performance in the long run.
Deep into the Q&A, some analysts were asking how AMD would differentiate itself from other contenders in the burgeoning ARM server space. Given what Keller and Papermaster shared, the answer seems quite obvious. If AMD were only offering A57-based parts like Seattle, it might have trouble standing out, but we're talking now about a full-fledged, next-generation processor worthy of the Opteron name. The other players in the ARM server space have, at least so far, concentrated almost exclusively on small, lower-power cores. Few have even made the transition to 64-bit addressing, and nothing in ARM's own portfolio of licensed cores is anywhere near this potent. The ARM-compatible K12 may be one of a kind if it arrives on schedule in 2016.
If it enables the folks building data centers to get the same sort of per-thread performance from ARM-based servers that they can from x86 processors, the K12 could obviate the need for x86 CPUs almost entirely. It could help key a dramatic transition from a single dominant ISA to two competing options—or it might even spark a longer transition away from the Intel-dominated x86 world to one ruled by the more open and expansive ARM ecosystem.