Nvidia's Tegra 4i processor, formerly known as "Project Grey," is the company's new beefy processor with integrated 4G LTE connectivity. While you won't find any of the devices at Mobile World Congress implementing the chip just yet, Nvidia does have a reference device to show, dubbed Phoenix.

In the video, Nvidia demonstrates what its chip is capable of, and the kind of hardware partners can create with the Tegra 4i; Phoenix, according to Nvidia, is a fully-functional smartphone with a 5-inch 1080p display, 13-megapixel camera and integrated 4G LTE. In addition, Nvidia touts the chip's overall graphical prowess: 60-core GPU (2x more powerful than Tegra 3), while still improving battery life and web browsing.

"Better yet, we've tweaked the Tegra 4i architecture to make the chip smaller and more efficient than the competition, allowing us to pack all its tech into a package just 8mm thin," Nvidia's Will Park said.

For a full and complete explanation of the Tegra 4i running inside Nvidia's Phoenix reference phone, check out the video.