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I think it is not happening because it doesn't have to. Current CPUs are more than fine for home user and HEDT market is too small to excuse huge spending for research. I think once electron apps will become more popular home users will get power hungry again and that will kick off another cpu revolution.

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It's not happening because it's hard to do. Extracting instruction level parallelism is difficult(which is how CPUs gain IPC) and then also the cores have to be wider with exponential complexity. ie. At the point you have to sacrifice 50% of CPU's power efficiency for 5% IPC gain, it's no longer worth it.

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