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Doc/whatsnew/3.8.rst
@@ -67,6 +67,20 @@ Summary -- Release highlights
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New Features
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============
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+Parallel filesystem cache for compiled bytecode files
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+-----------------------------------------------------
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+
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+The new :envvar:`PYTHONPYCACHEPREFIX` setting (also available as
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+:option:`-X` ``pycache_prefix``) configures the implicit bytecode
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+cache to use a separate parallel filesystem tree, rather than
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+the default ``__pycache__`` subdirectories within each source
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+directory.
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+The location of the cache is reported in :data:`sys.pycache_prefix`
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+(:const:`None` indicates the default location in ``__pycache__``
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+subdirectories).
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+(Contributed by Carl Meyer in :issue:`33499`.)
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