The faster of two is the Core i5 Intel Core i5 4350U, a dual-core with four thread processor that has a 15W TDP. It works at 1.4GHz and with the help of Turbo it can jump all the way to 2.9GHz, which is more than double its original clock. This is definitely a nice boost for this power saving core. The CPU is 22nm Haswell based, has 3MB of cache and will sell for $342 once it becomes available.
It is interesting to notice that Core i5 4350U comes with Intel HD 5000 graphics with a standard clock of 200MHz, while its maximum turbo performance stops at 1.1GHz. It comes in FCBGA 1168 40mm x 24mm x 1.5mm package.
The runner up is the Core i5 4200U dual-core with four threads for mobile computers that starts at 1.6GHz but the max turbo stops at 2.6GHz, making it theoretically slower than Core i5 4350U. This one also with Intel HD graphics 4400 at 200MHz, with a top turbo clock of 1000 MHz, but at the same time will cost $287 which is significantly less.
We can see both of these being quite popular for Ultrabooks later this fall, and have in mind that Intel also has at least three more Core i7 U-series mobile processors that will come with higher performance and higher prices for 15W Ultrabooks.