In the various aspects, virtualization techniques may be used to improve performance and reduce the amount of power consumed by translating virtual memory addresses into physical addresses on a computing system having hybrid memory. In a first stage of memory translation, an operating system translates virtual addresses to intermediate physical addresses. In a second stage of memory translation, a chip or virtualization software translates the intermediate physical address to physical addresses based on the characteristics of the physical memory and the characteristics of the processes associated with the physical memory.