You may have seen this graphics demo before. It shows off the Unreal Engine 4, the next-gen graphics tech from the company behind Gears of War, Infinity Blade and the graphics engine that runs a lot of modern PC and console games. But if you saw it before, you saw it running on a PC. Now you can see it running on Sony's next console.
This is Epic's UE4 "Elemental" demo with an ice giant at the end. We saw a shorter version of this in February, when Sony unveiled its new system.
The first time we saw Elemental? Back in May 2012? It was running on a PC powered by an Nvidia GeForce GTX 680. Now it's running either on or at least to the specs of a PlayStation 4. In real time, according to Epic.
If you'd like to compare, here's the same demo, sans ice giant, running last year on that PC with that Nvidia card: