According to a leaker known as “ShrimpApplePro “, he reveals Apple's plans for the upcoming A16 and M2 processor, as well as the “ultimate” variant in the M1 family.

From a fairly reliable source, but take this one with a big grain of MSG.
A16 Bionic will continue to use 5nm from TSMC N5P. From the list I received from source “TSMCFF5”
Upgrades are slightly better CPU, LPDDR5 RAM and better GPU. (1/3)

— ShrimpApplePro (@VNchocoTaco) May 26, 2022

It is said that the A16 will be based on the TSMC 5nm process, just like the A14, A15 and M1 processors. Previous reports were not clear about whether the A16 would be made using TSMC's most advanced 4nm process, with a vague report from DigiTimes claiming that Apple plans to use TSMC's 4nm N4P process – but the N4P is actually an improved version of the third generation of the 5nm process. On the other hand, ShrimpApplePro said that the A16 will use the TSMC N5P process. This indicates that the A16 may be a less substantial upgrade than previously thought.

According to the information, the A16's improvements will instead come from minor improvements to the CPU, GPU, and memory.

ShrimpApplePro said the A16 will specifically feature LPDDR 5 memory. LPDDR 5 memory is up to one and a half times faster, and up to 30 percent more power-efficient than the LPDDR 4X memory paired with the A15 processor in the iPhone 13 and iPhone 13 Pro.

The M2 will apparently be the first processor from Apple to make the jump to the TSMC 3nm process, bypassing 4nm entirely. The M2 is believed to be Apple's first custom ARMv9 processor.