The iPhone 7 is powered by the all new A10 Fusion chip. It’s a 64 bit four core processor that is 40% faster then the A9 in the 6S. Two of the cores are high efficiency units that run 1/5th of the power to automatically run lower power apps, which is controlled by a new power controller. The graphics performance is 50% faster than the A9. New games were shown off to use the A10 chip, Metal, Taptic engine, and 3D Touch to offer the expected term, “console quality”.
In terms of battery life there’s a bump up across the board for the longest battery life of any iPhone. The iPhone 7 on average will last 2 hours longer than the iPhone 6, and the 7 Plus will last an hour longer than the 6S Plus.