Dual-core chips bring dual caches

"Each core of Montecito, for instance, will come with a 1MB level two cache and a 12MB level three cache, according to Cameron McNairy, a researcher at Intel. To date, Intel has mostly said that Montecito's level 3 cache will contain 24MB of memory."
For the most part this article is talking about server based stuff but that shouldn't stop you from reading it.

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