It's going to have a blazing fast A12 CPU on board. And it will come with either 64 or 128GB of storage.
The A12 compared to the A10X will offer the current Apple TV 4K model a nice speed bump. From a base frequency of 1.3 GHz to 1.6 GHz.
To compare the full specs between these two chipsets, check out gadgetversus.com
According to MacRumors, the new Apple TV models are ready to ship, but there is not yet have a release date.
The last updated Apple TV model refresh was released in September. Which make this September seem pretty likely.
Fortunately, an Apple TV as a media player is 1000X better than Apple TV+ is as a streaming service. But to be fair they have been building Apple TVs now since January 9, 2007. And their Apple streaming service has only been in existence since April 21, 2020.
So while their new streaming TV services still has some growing up to do. The good news is if you buy a new Apple TV, they will give you their Apple TV+ streaming TV service free for an entire year.
And for some more things you can do with an Apple TV, don't miss these: Apple TV Apps from the Dark Side