Yes, that would be Project Scorpio. Microsoft has published the specifications of the 4K version of Xbox One. The console was being developed under the name Project Scorpio.
The announcement was made through the website Eurogamer. The New Xbox One will get a custom processor with eight cores clocked at 2.3 GHz. The regular Xbox One also has eight cores, but clocked at 1.75 GHz. PlayStation 4 Pro has an equal amount of processor cores clocked at 2.1 GHz. The new SocC will bring Project Scorpio 6 teraflops, in comparison, the 4K-version competitor PlayStation 4 can handle 4.2 teraflops.
The graphics processor will be faster as well, 1172 MHz, over 853 MHz in the Xbox One. MHz means nothing unless what GPU power is under that hood of course. Details lack aside from 40 Compute cores, Project Scorpio does have a custom GPU that has been designed from the ground up and is paired with 12GB GDDR5 memory andthus that eight-core CPU.
|Project Scorpio||Xbox One||PS4 Pro|
|CPU||Eight custom x86 cores clocked at 2.3GHz||Eight custom Jaguar cores clocked at 1.75GHz||Eight Jaguar cores clocked at 2.1GHz|
|GPU||40 customised compute units at 1172MHz||12 GCN compute units at 853MHz (Xbox One S: 914MHz)||36 improved GCN compute units at 911MHz|
|Memory||12GB GDDR5||8GB DDR3/32MB ESRAM||8GB GDDR5|
|Memory Bandwidth||326GB/s||DDR3: 68GB/s, ESRAM at max 204GB/s (Xbox One S: 219GB/s)||218GB/s|
|Hard Drive||1TB 2.5-inch||500GB/1TB/2TB 2.5-inch||1TB 2.5-inch|
|Optical Drive||4K UHD Blu-ray||Blu-ray (Xbox One S: 4K UHD)||Blu-ray|
Scorpio has a larger processor (the most expensive single part of any console), 4GB more memory, a faster hard drive, a UHD Blu-ray drive and a state-of-the-art cooling solution. All of these add cumulatively to the bill of materials and if I had to guess - and I'll stress that this isn't based on anything I might have heard on my visit - Project Scorpio is going to cost in the region of $499.