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Dimensions 301mm (11.85in) tall and 151mm (5.95in) in depth and width
Weight 9.8 pounds
Graphics 12 TFLOPS (teraflops), 52 CUs (compute units) @ 1.825 GHz Custom RDNA 2 GPU
Processor 8x Cores @ 3.8GHz (3.6 GHz w/ SMT) Custom Zen 2 CPU
Memory 16GB GDDR6 (10GB @ 560GB/s fast GPU optimal memory, 3.5GB @ 336GB/s standard memory, 2.5GB @ 336GB/s reserved memory for OS and apps)
Storage 1TB PCIe 4.0 NVME Solid-State Drive (SSD) with speeds of 2.4GB/s (raw) and 4.8GB/s (compressed)
Disc Drive 4K UHD Blu-Ray Drive
Power Supply 300w, internal
HDMI resolution and framerate 1x HDMI 2.1 (out)
4K @ 60fps, , up to 120fps
8K up to 120fps
Variable Refresh Rate (VRR)
Auto Low Latency Mode (ALLM)
Networking Ethernet
Wireless
USB Port 2x USB 3.2
Expandable Storage 1TB Expansion Card
External Storage USB 3.2 External HDD Support
IR Blaster No
Ray Tracing Yes
Audio Audio out only, through HDMI port

And yes, all your games from Xbox One, Xbox 360, and original Xbox will be backwards compatible with the Series X console.

The Xbox Series X will cost $499, and it’ll launch alongside the Xbox Series S on November 10, 2020. Preorders will begin on September 22 at the Microsoft Store.