PPU can refer to two different things depending on the context:
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Physics Processing Unit: A dedicated microprocessor designed to handle the calculations of physics, especially in the physics engine of video games. It is an example of hardware acceleration and can handle calculations such as rigid body dynamics, soft body dynamics, collision detection, fluid dynamics, hair and clothing simulation, finite element analysis, and fracturing of objects.
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Pending Pick Up: An acronym commonly used on reselling sites like Craigslist to indicate that an item has been promised to a buyer but has not yet been picked up.