8GB GDDR5 UMA
..or 8192MB of Graphics Double Data Rate Version 5 SDRAM in a Unified Memory Architecture.
This is a large amount of RAM, incredibly fast and it's one single pool so developers can choose how much of it they use for each part of the system, they can divide it up how they wish.
Originally 512MB was said to be reserved for the Operating System; but I can see it being 1GB now, so there will likely be around 7GB available for games.
This ram will likely run at about 5.5GHz, DDR3 usually runs in the 1.3-1.8GHz range but is available as high as 2.8GHz.
The key here is that the CPU, GPU & RAM are all tightly packed on a single chip called an APU; and the CPU & GPU can share a bandwidth of 176GB/s when accessing the RAM, this means it will be incredibly efficient and data won't have to be thrown back and forth and passed through various connections.
The only downside to GDDR5 is it has a poorer latency which isn't well suited to CPU tasks, GDDR5 is High Speed, High Latency while DDR3 is Moderate Speed, Low Latency.
CPUs, particularly of the variety in the PS4 generally handle more random tasks, ones that can branch off in different directions according to various circumstances and this is better with lower latencies, whereas the GPU handles tasks that are straightforward and parralel; and can handle poorer latencies. This is the trade off of more speed in GDDR5.
But this problem is pretty much outweighed by the sheer bandwidth, flexibility and overall advantage the system's configuration as a whole provides. Also, there is a push towards a tyhing called GPGPU functionality, which offloads a lot of CPU-like tasks to the GPU; this will likely further aleviate this issue in some respects.
By comparison, the PS3 had one pool of 256MB XDR RAM @ 3.2GHz for the CPU Only and 256MB GDDR3 RAM @ 0.7GHz for the GPU Only. Also, after reserves for the OS, this respectively left about 200MB & 240MB for games which is incredible and proves how efficient consoles are, just to think Killzone 2/3 & Uncharted 2/3 were running on 440MB or ram split two ways.
EDIT: if you mean storage as in hard disk drive, I'm guessing around 320GB & 640GB for a standard and premium SKUs respectively, possibly 500GB & 750GB.
I can't see them doing 1TB just yet as the cost may be better spent on making sure the primary specs are exactly where they need to be.
They can bump up the HDDs down the line and we'll likely have the option to put our own in if needed.
This gen for example we've had..
8GB but honestly i dont think thats enough unless they are going to sell another version with more memory like the Wii U
The WiiU has 2GB ram, and comes with 8GB & 32GB storage versions.
The PS4 has 8GB ram, and we don't know what storage versions.
Ram is completely different to storage It will have more than 8GB storage, believe me!
The PS3 has around .5GB of Ram, but you can buy models with over 300GB of storage
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