Intel Unveils 1-GHz Pentium III Chip:

Intel Corp. unveiled a Pentium III running at 1 gigahertz two days after archrival Advanced Micro Devices Inc. beat it to the important benchmark. Intel said its 1-GHz Pentium III performs better than AMD’s 1-GHz Athlon because its product has cache memory designed on the chip, rather than as a separate chip alongside it. Intel’s 1-GHz Pentium III will cost $990 when bought in lots of 1,000, compared with $1,299 for AMD’s 1-GHz Athlon. Intel closed off 81 cents at $114.94 on Nasdaq, and AMD fell $1.50 to close at $53.50 on the New York Stock Exchange.