"Embree is a collection of high-performance ray tracing kernels, developed at Intel Labs. The kernels are optimized for photo-realistic rendering on the latest Intel® processors with support for the SSE and AVX instruction sets. In addition to the ray tracing kernels, Embree provides an example photo-realistic rendering engine. Embree is designed for Monte Carlo ray tracing algorithms, where the vast majority of rays are incoherent. The specific single-ray traversal kernels in Embree provide the best performance in this scenario and they are very easy to integrate into existing applications."
At last the big boys are paying attention to our industry... This is open source code for people to write their own raytracing renderers using the Monte Carlo method.
The fact that is is accelerated on Intel hardware means that it could lead to even more people coming up with hardware accelerated renderers. I'll be keeping an eye on this.
Oh, and before I forget, you can download the source code here.