It's a lot higher-level than machine language. There's a giant switch statement that looks at each opcode and decides what to do based on the opcode. Here are some snippets:
switch (opcode) {
...
TARGET(LOAD_CONST) {
PyObject *value = GETITEM(consts, oparg);
Py_INCREF(value);
PUSH(value);
FAST_DISPATCH();
}
...
TARGET(UNARY_NEGATIVE) {
PyObject *value = TOP();
PyObject *res = PyNumber_Negative(value);
Py_DECREF(value);
SET_TOP(res);
if (res == NULL)
goto error;
DISPATCH();
}
...
TARGET(BINARY_MULTIPLY) {
PyObject *right = POP();
PyObject *left = TOP();
PyObject *res = PyNumber_Multiply(left, right);
Py_DECREF(left);
Py_DECREF(right);
SET_TOP(res);
if (res == NULL)
goto error;
DISPATCH();
}
The TARGET and DISPATCH stuff is part of an optimization that doesn't quite go through the regular switch mechanics. Functions like PyNumber_Negative and PyNumber_Multiply are part of the Python C API, and they dispatch operations like negation and multiplication.