Rumor mill: It seems a bit early for next-generation console rumors, considering the mid-cycle refreshes have not launched yet. Be that as it may, the latest information regarding Microsoft's and Sony's next consoles has already hit the news cycle. So here we go.

Anonymous insiders told YouTube channel Moore's Law Is Dead (MLID) that Microsoft canceled plans for a mid-life Xbox Series upgrade codenamed Xbox Elite. Channel host Tom N/A said AMD was already in "late development" on a chip for the refreshed console before Xbox pulled the plug.

Furthermore, Microsoft has taken an exceptionally long time to set a contract for a next-gen chip supplier. Tom notes that it's not unusual for Xbox to "shop around" with other providers to get AMD to offer a better deal. However, nothing has materialized yet. Xbox could be seriously considering switching to Intel this time.

Meanwhile, Sony is already plugging away at its console future. The chips for the PlayStation 5 Pro (or whatever name it ends up with) were already "tapped out" last year. The silicon sits in storage, waiting for Sony to call on it for the Pro upgrade. While Sony has not confirmed a release window for a PS5 Pro, sources within AMD tell MLID they expect a 2024 holiday launch.

As for next-generation plans, Tom can "100 percent confirm" that AMD already signed contracts to produce chips for the "PlayStation 6 Family." However, sources couldn't provide any details regarding the specs of the next-generation hardware.

Part of that PS6 family is a Vita 2, which MLID also guaranteed with certainty is in "early development." Yes, Sony finally realized that the PS Portal was not the answer to the renewed handheld gaming craze.

Like the PS6, insiders were tight-lipped about the silicon AMD is designing for the Vita 2. However, MLID speculated that the Sony handheld could have an SoC with 18CUs to remain backward compatible with PS4 digital games. What about the PS5? Well, it's certainly possible to make the Vita 2 backward compatible with PS5, but that would cannibalize the Portal. Plus, at this time, PS4 has a far more robust games catalog.

Unfortunately, it is far too early to skip your daily dose of salt regarding this leak. Companies tend to play their cards close to the vest on new hardware releases, and Covid taught them to be extra cautious. So don't hold your breath for official news from Sony or Microsoft soon concerning next-gen gear. Both companies are likely to sit on official announcements until just before they are set to launch.

Image credit: Moore's Law Is Dead