What is the processor specification of a CPU?

Each CPU is equivalent to a 2.0 GHz Intel Xeon processor.

Can I resize the compute offering dynamically?

For a stopped VM, you can change the CPU and RAM compute offering (also known as the 'service offering') to any available offering. For a running VM, only scaling up is allowed: the RAM size or number of CPUs must stay the same or increase. For more information see VDC 2.0 Data Sheet: Vertical scaling of virtual machines.

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