Otellini talked just a bit about a Larabee and it mentioned its a multi core, graphics part with shared cache.
The other thing that it mentioned that it will come in 2008 but the company is still not ready to demonstrate this new graphic thing. This will be a terraflops processor / graphic card which implies that it might be just as fast as the fastest ATI and Nvidia that are scheduled for early 2008.
Ottelini also said that the same programming models will work with this new graphic thing.
We hope to learn more about this new graphic concept soon and we even have a dodgy diagram picture of how it will look like.