The Intel Hybrid Cloud is a physical server (a Lenovo ThinkServer TS200v or a white label machine) that Managed Service Providers can buy and deploy at customer's site. MSPs remotely control server out-of-band by leveraging Intel Active Management Technology (AMT) 6.0, part of vPro technology.
Inside the server there's Microsoft Hyper-V, ready to serve a number of pre-configured and pre-deployed VMs, including Windows Server and Small Business Server 2008, firewall, backup, disaster recovery, VoIP PBX and other software platforms. Additional apps provided by Intel partners will be published through a software catalog. MSPs will be able to preinstall their own apps inside the server to differentiate the offering.
Now that first prototypes are being sent to customers, there's an interesting change: the underlying hypervisor powering Hybrid Cloud isn't Hyper-V but Citrix XenServer.
A video showing unboxing of a unit provides necessary evidence: