Developed by the APE group, APENet is a new high speed, low latency, 3-dimensional interconnect architecture optimized for PC clusters running LQCD-like numerical applications. The hardware implementation is based on a single PCI-X 133MHz network interface card hosting six independent bi-directional channels with a peak bandwidth of 676 MB/s each direction. We discuss preliminary benchmark results showing exciting performances similar or better than those found in high-end commercial network systems.