SmartOS

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Joyent Announces SmartOS With KVM (An Open Source)
“Joyent SmartOS is the first hypervisor platform to emerge in five years, and it’s the only cloud server solution that can manage both KVM hardware virtualization and operating system-level virtualization on a single OS,” said Jason Hoffman, founder and chief scientist of Joyent. “This combination of virtualization options, data consistency through ZFS and access to DTrace for rapid troubleshooting, is the most powerful and efficient collection of technologies in cloud application development. I invite developers who use VMWare, Citrix, Red Hat or Microsoft hypervisor tools to try this open source package.”
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SmartOS incorporates Zones, ZFS, DTrace and KVM .Screenshots
 
Slides about porting KVM to SmartOS here

It appears this is aimed at Intel chips currently, as stated on the OpenIndiana mailing list;
"Although they focused on developing for Intel they did it such that it shouldn't get in the way of working on AMD chips in the future." (pg 4 of slides linked above)
 
Looks like the result of someone trying to make money off of other peoples work by using buzzwords and colorful marketing.
 
Isn't SmartOS based on IllumOS, which in turn is based on the "free" bits from OpenSolaris?
 
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