angry tapir writes, quoting a Techworld article: "In its continuing endeavor to serve its 800 million users as quickly as possible, Facebook is once again revamping the way it handles its PHP-based Web pages. Facebook has posted ... its HipHop Virtual Machine (HHVM), which the company's engineers call a just-in-time PHP compiler. According to Facebook, this PHP execution engine is 60 percent faster than its current PHP interpreter and uses 90 percent less memory." Facebook has a weblog post with a more technical description.
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