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Transistor density continues to increase exponentially, but power dissipation per transistor is improving only slightly with each generation of Moore's law. Given the constant chip-level power budgets, this exponentially decreases the percentage of transistors that can switch at full frequency with each technology generation. Hence, while the transistor budget continues to increase exponentially, the power budget has become the dominant limiting factor in processor design. In this regime, utilizing transistors to design specialized cores that optimize energy-per-computation becomes an effective approach to improve system performance.
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Venkatesh et al. (2011) studied this question.
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