The portable edition of the PlayStation 6 is estimated to be more powerful than the Xbox Series S but less powerful than the base PlayStation 5, and won't be able to run PS5 games as well as the original system does due to lower memory bandwidth.
Following up on some earlier comments regarding the portable edition of the next-generation Sony console, known leaker Kepler L2 provided some additional information on the system on the NeoGAF forums. Asked about the system's power, the insider confirmed that, while it won't be as powerful as the base current-generation system, it will definitely be able to run PS5 games, although not at the same resolution and framerate, mainly due to lower memory bandwidth. Judging from this information, the leaker's assessment of the system's power, which will sit between the Xbox Series S and the base PlayStation 5, sounds accurate enough, although they stressed how it's difficult to estimate the system's performance due to it using an unreleased GPU architecture.
Speaking further about the portable PlayStation 6 SoC, the leaker confirmed it will be a different chip than the one powering the home console, designed to run at very low voltages, and that will feature a lot less than 40 compute units, so likely less than the 36 featured by the base PlayStation 5's chip, although this doesn't tell us much without any additional information. This SoC will also tape out a few months after the regular PlayStation 6 SoC, so it may take a while longer for more information to come out.
While any edition of the PlayStation 6 has yet to be announced, we know that it will be powered by AMD like its two immediate predecessors. This wasn't a given, however, as Intel reportedly bid to produce the system but ultimately lost to AMD. The system is expected to be released between 2027 and 2028.