Microsoft is still working on a brand new Xbox console, however new leak suggests the next Xbox, possibly called Magnus, could launch as soon as late 2026, earlier than many expected.This upcoming Xbox is said to be much more powerful than the current consoles. It might run games at 4K resolution with 120 frames per second.Magnus may offer much better graphics, including advanced ray tracing. That would make it even stronger than the expected PS5 Pro.The console will likely use a new AMD chip, with the latest Zen 6 processor and RDNA 5 graphics.These are the same types of chips that could power AMD’s mid-range PC graphics cards.The new Xbox might also have 68 compute units and fast GDDR7 memory, giving it performance close to Nvidia’s RTX 5080 graphics card.To make visuals look even better, Microsoft is expected to include AI upscaling using AMD’s FSR technology.There are also rumours the console will come with 32GB of RAM, double what’s in the current Xbox Series X.Another big feature is backwards compatibility. That means you’ll likely be able to play your current Xbox games on the new console.It may even work across both PC and console, depending on whether Microsoft includes a disc drive.No price has been confirmed yet, but early guesses suggest it could cost between $500 and $600. That could change depending on how much other new consoles cost, like the PS5 Pro or the next Nintendo Switch.If the leaks are true, this new Xbox could be one of Microsoft’s most powerful consoles ever and it might be coming sooner than you think.Also Read: Which Xbox games were cancelled amid Microsoft’s latest mass layoffs?Earlier, several Xbox games were cancelled after tech giant Microsoft announced mass layoffs, affecting around 9,000 people.While the number of Xbox employees affected remains unclear, Microsoft has confirmed the cancellation of several games and the closure of entire studios.In a memo sent to employees by Microsoft Gaming CEO Phil Spencer, it was maintained that the layoffs were necessary to allow for the “enduring success” of Xbox.“We will end or decrease work in certain areas of the business and follow Microsoft’s lead in removing layers of management to increase agility and effectiveness,” he said.