Sony announced on Tuesday the PlayStation 5 Pro, an upgraded version of its gaming console that will launch on November 7 for $700.

The release of Sony’s new PS5 console comes amid a global decline in console sales. In August, Sony reported that it sold 2.4 million units of its PlayStation 5 console in its first fiscal quarter, compared to 3.3 million in the same period last year.

The PS5 Pro will have an improved graphics card with 67% more processing units than the current standard PS5 model, Sony said, allowing gameplay to be rendered up to 45% faster. Sony also touted new artificial intelligence features that will enhance the graphics with sharper images and more detailed visuals.

The PS5 Pro features “advanced” ray tracing, a technique in computer graphics that simulates how light bounces off reflective surfaces.

According to Sony, the PS5 Pro features a 2-terabyte solid-state drive, which is larger than the PS5’s custom-built 825GB solid-state drive. It comes with Sony’s DualSense wireless controller and support for Wi-Fi 7. An Ultra HD Blu-ray Disc drive is sold separately.

According to Sony, several games will be labeled “PS5 Pro Enhanced” and will have features that work on the new console. Examples include “Alan Wake 2,” “Assassin’s Creed Shadows,” “Demon’s Souls,” “Dragon’s Dogma 2,” “Final Fantasy 7 Rebirth,” “Gran Turismo 7,” “Hogwarts Legacy,” “Horizon Forbidden West,” “Marvel’s Spider-Man 2,” “Ratchet & Clank: Rift Apart,” and “The Last of Us Part II Remastered.”