Interestingly, the "ultra" Mac Studio released a year ago was based on the older M3, not M4. Apparently, the work to "ultra-fy" a CPU is significant (which makes sense) so there can be a lag.
Not that they have to follow pattern, but the a Mac Studio ultra released later this year might be based on M4. Or one based on M5 might be released a year or more from now.
The M4 Max lacks the UltraFusion interconnect, making an M4 Ultra impossible. We might however see an M5 Ultra due to the new Fusion Architecture in the M5 Pro and M5 Max chips (just announced for the latest MacBook Pro), which uses a high-bandwidth die-to-die interconnect to bond two dies into a single unified SoC—similar in concept to UltraFusion but evolved for better scaling, efficiency, and features like per-GPU-core Neural Accelerators.
Reports and leaks strongly indicate Apple is preparing an M5 Ultra (likely fusing or scaling from the M5 Max using this advanced interconnect tech) for a Mac Studio refresh later in 2026, based on Bloomberg/Mark Gurman and other sources. This would bring back the top-tier "Ultra" option after skipping it entirely for M4.
I suspect that the cost/benefit isn't there. Those who need the "biggest Ultra" will be happy with the previous generation or so, and so they'll refresh that on a 2 or 3 year cycle.
Given that generation gains are not sufficient to make a Max twice as fast as the previous-gen Ultra, a longer cycle is rational. The M3 Ultra is still the fastest M-series system.
The existing ultras are two max dies connected together with TSMC’s CoWoS-S interposer. But as I understand the interposer can have yield issues, so yes — you put two together, but it’s not quite as easy as snapping together legos.
It used to mean that, but the new M5 Pro and M5 Max have separate CPU and GPU chiplets with an interposer, similar to how the previous generation Ultras were based on connecting two Max full dies. So it's unclear whether there will be any Ultra for the M5.
This tells me the Max CPU chiplet has two interfaces to GPU dies. If you can connect two CPU chiplets via the same interface, making an M5 Ultra is doable by joining two CPU chiplets, each with a GPU chiplet attached.
Ditch the Aluminium and go with a copper MacBook Pro. Or silver. If you get it with a terabyte of RAM, the silver shell will be a small part of the total costs.
Argentium 960 would most likely be the best alloy for the job, as it’s a good heat conductor and doesn’t tarnish like pure silver.
There are gaming laptops that come with power bricks rated for higher output than a Mac Studio's power supply. M3 Ultra levels of power dissipation are possible to handle in a laptop, but it wouldn't look much like a MacBook Pro. That kind of gaming laptop typically has four fans (compared to two on a MacBook Pro), and large vents on the sides, bottom, and back of the machine allowing them to move a lot more air through the system.
Not that they have to follow pattern, but the a Mac Studio ultra released later this year might be based on M4. Or one based on M5 might be released a year or more from now.