Next Tuesday, May 7, Apple's "Let Loose" event will be held, where the next iPad is expected to be announced. We've already heard plenty of rumors about the next iPad and its accessories, but Bloomberg's Mark Gurman reports on some fascinating new revelations.

The biggest of these is that Gurman believes there is a "strong possibility" that the next iPad Pro 2024 model will run on the Apple M4 chip rather than the rumored M3 chip. The new chip's main feature is apparently an upgraded Neural Engine that will improve the AI performance of the new tablet and allow Apple to leverage its power for marketing.

More importantly, Garman says this will be the beginning of Apple's shift to AI hardware. we have already heard rumors that the iPhone 16 will have a big focus on AI in conjunction with iOS 18, and the M4 chip is likely to bring that capability to the new Mac by the end of the year Garman also points out that the M4 chip is likely to bring that functionality to new Macs by the end of the year. Specifically, iMac, MacBook Pro, and Mac mini.

So why announce a new chip so soon? Garman believes it is to announce them ahead of WWDC 2024 in June. By doing so, Apple can reveal its strategy for the AI chip without having to clam up about possible future hardware releases. The iPad Pro 2024 will also be able to participate in the AI upgrades offered in iPadOS 18 later this year.

Garman confirmed rumors that a new 12.9-inch iPad Air will also be announced at this Let Loose event. That would be alongside a new Magic Keyboard and Apple Pencil 3. The new stylus may feature haptic feedback.

Apple's Let Loose event will start at 10:00 a.m. ET/7:00 a.m. PT on May 7, and according to Gurman, it will not be a big show like the iPhone launch and will probably last less than an hour. Until then, you can check out the iPad Pro 2024 and iPad Air 2024 hubs for all the latest news and rumors.