The world’s first 1,000-core processor

I think some GPUs have more than 3x that.

Yes, but GPUs are SIMD/T, this isn't. This means that it can run threads doing completely different work, including "branchy" logic relatively efficiently. There are still a bunch of other questions about how well this actually scales, but that is the gist of their new contribution.
 
MYbb article doesn't specify the speed at which the cpu runs at, a bit of digging around it is 1.78GHz, not too shabby, you could have it run at 300mhz and it should still pack a punch.

There's a lot of hype about this processor right now, but it can really only provide a performance benefit in a very small set of applications. There's no floating point unit, no vector units, and there's no global memory subsystem - these are key for any type of general purpose processing.
 
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