IBM on Monday will announce its new 64-bit PowerPC processor with speeds starting at 1.8GHz, reports Reuters. The new chip is based on the company’s Power4 design, and will be able to run both 32-bit and 64-bit applications. The processor will be available in the second half of 2003 and will be built in IBM’s East Fishkill, New York plant. IBM declined to comment on which PC makers would use the chip, but Apple is widely expected to adopt it.