For starters, it's claimed that there will be an 8-core/16-thread Ryzen 3000 processor clocked at 3.2GHz. The Radeon Navi-based GPU is said to have a total of 72 Compute Units (in a dual-36 CU setup allegedly), 64 shaders per CU, a clock speed of 1.55GHz and either 16GB or 24GB of GDDR6 memory. When all is said and done, we're allegedly looking at around 14.2 TFLOPS compute performance from this GPU, which supports hardware ray tracing.
As for the SSD, it's said that systems will come packing 2TB right off the bat, which should be a relatively comfortable amount for many gamers. Sony previously stated that we haven't seen any consumer-level SSDs that offer the performance seen in the PS5, so it's quite possible that the console could be using a PCIe 4.0 interface.