Larrabee is Intel's many-core graphics processor that combines CPU and GPU functionality. It is based on Intel's x86 architecture and features vector processing units and texture sampling units. Larrabee uses a binning renderer for parallel processing across its cores. While similar to GPUs in supporting graphics functions like rasterization, it differs in allowing cache coherency and running x86 instructions. Larrabee aims to enable highly parallel workloads for applications like graphics rendering, physics simulation, and data analysis.