An abbreviation with multiple lives: in business and government, P3 stands for public-private partnership — a model where public infrastructure or services are funded and operated through collaboration between government and private companies. In computing history, P3 was shorthand for the Intel Pentium III processor, a milestone chip of the late 1990s. Context determines which meaning you're dealing with, but the business/policy sense dominates in contemporary usage.
The new bridge was funded through a P3 arrangement, with the city covering land costs and the developer handling construction.
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(business) public-private partnership.
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(chemistry) period 3.
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(computing) Intel Pentium III.
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