AMD is working on the processor for the fourth PlayStation console, according to a report from Forbes. According to one rumor, AMD is also producing the graphics processor for the next Xbox as well. Another report alleged that the PS4 will have more powerful hardware than the next Xbox.

AMD processors are currently used in Xbox 360s, but the PS3 uses a NVIDIA graphics processor.

Reports have all but confirmed that Sony's next home platform is in development, but the company has denied reports that the console will be unveiled at E3 2012, indicating that the console won't launch until the end of 2013 or later.

[Via Forbes]