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An underappreciated consequence of this is that if doubling the number of cores doubles performance (meaning the multi-threading is good) but going on to the hyperthreads only gives a 15% speedup then that means that in the hyperthreaded case each hyperthread must be running 57.5% of normal speed - barely half as fast. That's just math.

This slowdown of each thread may not matter, or it may lead to increased latency.

TL;DR - when both hyperthreads in a core are in use it is highly likely that each one is running significantly slower than if only one was in use.



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