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> The processor was developed by Microsoft and IBM under the IBM chip program codenamed "Waternoose", which was named after the Monsters, Inc. character Henry J. Waternoose III.[1] The development program was originally announced on November 3, 2003.[2]
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> The processor is based on IBM PowerPC instruction set architecture.
also, the ps3's cell and 360's xenon are essentially the same chip, which came as a laugh for either of the fanboys, with the raw specs of the 360 being 0.1-0.5% faster, so marginally it made no difference, but the cell arch had better design and 1st-party games generally ran better on ps3 rather than the 360, but that might be largely because sony cared about product/code quality at one point..