Abstract
	This article is devoted to the new high speed steels prepared by powder technology. The starting, chemically modified high speed steel powders of the M2 (STN 19830) grade, were produced by atomization with nitrogen into nitrogen under rapid solidification conditions, then consolidated by powder hot extrusion or powder hot isostatic pressing, and finally thermally treated.
	We have analyzed the cooling rate, microstructure and phase composition of started powders, as well the microstructure and basic properties of consolidated semiproducts. We have found that the microstructure of the new PM high speed steels was homogenous, isotropic, fine grained, and the average carbides  diameter was 0,5?m. The cutting inserts made from the best of new developed high speed steels have shown more then twice higher cutting edge life when comparing with corresponding high speed steel prepared by melt metallurgy.