VT-x is a technology from Intel that allows Hardware Assisted Virtualization (HAV). HAV enables virtual hosts to use processors directly in an isolated manor.
In computing, hardware-assisted virtualization is a platform virtualization approach that enables efficient full virtualization using help from hardware capabilities, primarily from the host processors. A full virtualization is used to emulate a complete hardware environment, or virtual machine, in which an unmodified guest operating system (using the same instruction set as the host machine) effectively executes in complete isolation. Hardware-assisted virtualization was added to x86 processors (Intel VT-x or AMD-V) in 2005 and 2006 (respectively).
Hardware-assisted virtualization is also known as accelerated virtualization; Xen calls it hardware virtual machine (HVM), and Virtual Iron calls it native virtualization.