Well this is a surprise. In an exclusive interview with lead architect Mark Cerny. Wired has revealed the first PS5 details.
The PS5 has been in the works for 4 years (2015)
Zen 2 Confirmed (big deal, Zen+ was previously assumed to be what was used in PS5).
Navi confirmed (not as big deal, since we pretty much knew this before).
Ray Tracing Support Confirmed (To what degree is unknown, but holy crap!)
3D Audio info - Some solution for TV speakers, will support native 3D audio set ups aside from their Gold Headphones such as external speakers, unlike PS4.
Current PSVR headset is compatible with PS5.
SSD Confirmed! (If Mark Cerny wasn’t the one saying these things, I wouldn’t believe him).
SSD used standard faster than what’s currently available for PC (PCIe 4.0?).
Spider-Man is running on a PS5 Devkit
8K Support (unlikely to be used much, like how base PS4 technically supports 4K)
Death Stranding confirmed to launch on PS4, possibly PS5.
No New news on cloud gaming
Backwards Compatible with PS4
Physical Media confirmed