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Qualcomm's latest sales director job listing directly mentions "Xbox products built on Snapdragon solutions," but this may not be referring to software and cross-device compatibility, not actual hardware.

All signs point to Microsoft working with Qualcomm on something Xbox-related, and given the FTC v Microsoft document leaks, there's speculation that the next Xbox could be powered by ARM chips. But the truth may not be this overt.
Sources have told Windows Central's Jez Corden that next-generation Xbox hardware will not use ARM chips due to compatibility concerns--it's believed that ARM chips currently do not have the power to ensure full compatibility with Xbox's cross-generational lineup of games.
It seems more likely that the "Xbox product" in this case could be some sort of hook into the new "thin OS" feature set that incorporates Xbox games and content onto handhelds and low-cost sub-$99 consumer devices, as well as ARM-based Surface devices.
The language in the job listing is nebulous, though, with one part of the summary directly saying that applicants would "help define the next generation of Surface and Xbox portfolios."
As of mid-2022, per the court leaks, we know that Microsoft was at least juggling the idea of using ARM for its new hybrid compute platform, which could include some iteration of the streaming-only Keystone console.
This bit of info was what led us to predict that Microsoft could release some sort of lower-cost hybrid games console that uses a combination of dedicated horsepower via built-in chips and cloud-enabled rendering/processing power.
The speculation and mystery surrounding Xbox hardware has been fueled by the current sales performance of Microsoft's consoles. It's believed that the Xbox Series generation could have shipped over 35.9 million consoles across Gen 9, however Xbox hardware revenues have dwindled for multiple quarters in a row, dropping to $329 million in Q3'25--the lowest point in the Xbox Series generation.
That being said, Microsoft has no plans to give up on consoles. Earlier this year, Xbox gaming CEO Phil Spencer said that consoles are a "good, established business."
Then in February 2024, Xbox president Sarah Bond confirmed that the new Xbox hardware would deliver a big jump in capability:
"What we're really focused on there is delivering the largest technical leap you will have ever seen in a hardware generation, which makes it better for players and better for creators and the visions that they're building."
It's also possible that any sort of ARM chip integration into Xbox hardware would be for a dedicated handheld gaming device, which Microsoft is said to be experimenting with.