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Tegra X1 is a decent chip, but apparently PowerVR (Imagination) has an even better one already ... the 16nm GT7900.

It pumps out 800 GFLOPS vs. 500 for the Tegra X1. And the chip is apparently very cheap and well suited for microconsoles.

I could see Nintendo choosing a chip like that (they could simply scale it down very easily for a handheld, so boom, shared library) or getting AMD to make them a mobile equivalent.