These might be the first leaked photos of Intel’s Arc Alchemist graphics card

Intel is currently building dedicated gaming graphics cards. They are due to be available in Q1 2022. We may just have our first glimpse at the Arc Alchemist, which Intel has been working on. These are leaked images by YouTuber Moores Law Is Dead (via Videocardz).
Arc is Intel's new GPU brand. It is designed to compete against AMD Radeon and Nvidia GeForce. The Arc Alchemist, the first GPU on the company's roadmap, is actually due to be released. Although the company previously produced the Intel DG1 in order to test the GPU, it was a weak card based on the Xe LP graphics architecture. Consumers couldn't buy it. The new card is part Intels Xe HPG roadmap. It is high-power / gaming and boasts performance comparable to Nvidia RTX3070 due to 512 execution units (EUs), and 16GB of GDDR6.

Leaks suggest Intel may have several versions of its DG2 GPU, including lighter versions that cost 448EUs, 384EUs and 256EUs. Or as low as 128EUs for entry-level GPUs. Even this would be significantly more than the number graphics core clusters Intel has incorporated into its CPUs.