Apple’s “One More Thing” event is all about Macs. Here’s the scoop on Apple’s latest chip, the M1, which is the first ARM-based computer chip the company’s making in house.

It’s also the first chip built on a 5nm process with 16 billion transistors. Optimized for Apple’s lower-power systems for minimal size and maximum efficiency, there are four performance cores and four efficiency cores in the CPU, which Apple says is the “highest performance CPU ever created.” Pound-for-pound, it has the highest CPU performance per watt, which was noted as being equivalent to a dual-core Macbook Air with less power.

The integrated graphics card has eight cores and can process up to 2.6 teraflops, making it the worlds fastest integrated graphics chip. Paired with the 16-core neural engine, which is capable of 11 trillion processes per second, Apple says apps like Garage Band can handle three times more instruments and effect plugins while Final Cut Pro, for instance, can render complex timelines up to six times faster.