The folks at Tech Report have been able to ascertain that AMD will in fact be incorporating a dynamic clock speed boosting feature into their Six-core Phenom II family of processors which works similarly to Intel's Turbo Boost feature.

AMD calls this Turbo Core technology and it will go into action when it detects that not all of the CPUs cores are fully occupied by raising the clock speeds on active cores well above the default frequency whilst keeping the CPU's thermal limits in check.

As you can see above, Tech Report got hold of a slide from AMD that helps describe the way it works internally and there's a more detailed breakdown on it at the source.