The Steam Box prototypes were just revealed recently, with the surprise that Valve would be working with multiple different brands to make a variety of different Steam Box models. At the time, it was announced that 300 of these prototypes would be sent to beta testers in the near future. Now they have unveiled the specs for these prototypes that will be in the hands of beta testers.
GPU: some units with NVidia Titan, some GTX780, some GTX760, and some GTX660
CPU: some boxes with Intel i7-4770, some i5-4570, and some i3
RAM: 16GB DDR3-1600 (CPU), 3GB GDDR5 (GPU)
Storage: 1TB/8GB Hybrid SSHD
Power Supply: Internal 450w 80Plus Gold
Dimensions: approx. 12 x 12.4 x 2.9 in high
Valve has chosen to send out multiple different configurations of the Steam Box so they can best see what they want in the final models.