Intel introduced a 65 nm (0.065 micron) process in 2006. The "Cedar Mill" Pentium 4 processor ran at 3.6 GHz at a whopping 1.3V although a small double-pumped part of the processor ran at 7.2 GHz. It could be overclocked to 4.5/9.0 GHz at 1.4V.
The discrepancy between 0.85V and 1.3V was caused by the end of Dennard scaling. Basically transistors require much more voltage than predicted and thus consume far more power than predicted. Although the transistors can technically run at 9 GHz, the resulting power density is very difficult to cool.