It is not ARM based as many, us included, have suggested. It is actually Intel Atom based.
We don’t have a lot of details like the clocks and we don't know whether it’s a dual or a single core, but you can imagine that it runs around the usual 1.6GHz clock or close to that.
We will try to dig more information but our sources close to Intel have confirmed that the chip behind this Chrome OS based notebook is Intel. It’s a nice win for Intel against this growing ARM threat.
Also read
Google shows off first Chrome OS notebook