The new processor runs at 1.3GHz, according to an AMD spokesman. It dethrones the mobile Athlon 4 1.2GHz as the chip-maker's highest-performing processor for mobile computers.
Compaq already offers the processor as an option in its Presario 700 notebook series for US customers ordering online.
AMD started labeling its chips with model numbers instead of clock speeds last October, a move the chip maker dubbed the True Performance Initiative. The company says its chips can handle more work in a given clock cycle than those of archrival Intel, making megahertz an inaccurate measure of comparison.
The wholesale price for the 1500+ processor is $525 (£373) when bought in 1,000-unit quantities, AMD said. The 1.2GHz model sells for $425 (£302) in the same quantities.
Intel's current top mobile processor is the 1.2GHz mobile Pentium 3, priced at $508 in 1,000-unit quantities, according to Intel's Web site.