HipHop for PHP isn’t technically a compiler itself. Rather it is a source code transformer. HipHop programmatically transforms your PHP source code into highly optimized C++ and then uses g++ to compile it. HipHop executes the source code in a semantically equivalent manner and sacrifices some rarely used features — such as eval() — in exchange for improved performance. HipHop includes a code transformer, a reimplementation of PHP’s runtime system, and a rewrite of many common PHP Extensions to take advantage of these performance optimizations.

In his article he describes how this tool helps to allow Facebook to scale to millions of users. He also mentions that HipHop has been released using the open source PHP license.