The M1 chip is more powerful
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In terms of performance, the M1 chip is about 50% faster than the A15 Bionic and 70% more powerful than the A14 Bionic (which is the chip in the 4th generation iPad Air). While the A15 Bionic has a 6-core CPU and 5-core GPU, the M1 chip is equipped with an 8-core CPU and 7-core GPU, as well as 8GB of RAM in the lowest configuration.