That is certainly how, but why? What have they done that enables it to do that?
"V8 Internals For JavaScript Developers"
I credit much of Chrome's success to V8. It's a marvel of engineering. Shame that the rest of Chrome hasn't been held to such a high standard.
Chrome came out a month after Mozilla published its TraceMonkey JIT. So JITing JavaScript has been the standard thing to do since the end of 2008.