Does the Python Virtual Machine (CPython) convert bytecode into machine language?

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I'm a little confused as to how the PVM gets the cpu to carry out the bytecode instructions. I had read somewhere on StackOverflow that it doesn't convert byte-code to machine code, (alas, I can't find the thread now).

Does it already have tons of pre-compiled machine instructions hard-coded that it runs/chooses one of those depending on the byte code?

Thank you.

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