kvm (Kernel-based Virtual Machine) is a full virtualization solution
for Linux on x86 hardware containing virtualization extensions
(Intel VT or AMD-V).  kvm is divided into the kvm-kmod package
(kernel modules) and the qemu package which are both available as 
separate Slackbuilds.

kvm-kmod consists of a kernel module, 'kvm.ko', that provides the
core virtualization infrastructure and a processor specific module,
'kvm-intel.ko' or 'kvm-amd.ko'.  Slackware provides these modules
in the 'a/kernel-modules*' packages.  In most cases, the provided 
versions are sufficient to run qemu with kvm support.  This kvm-kmod
package is only needed if you want to change the kvm modules to a 
different version.

kvm-kmod updates the modules without overwriting the ones provided
by Slackware.  If you uninstall kvm-kmod, you will need to run 
'depmod -a' to regenerate the modules.dep and map files to regain 
access to the Slackware provided versions.