This should be a big one. Image credit: Microsoft Microsoft has announced it will be hosting its first ever Xbox Game Dev Update showcase today. The freshly-announced video stream will introduce the company's next-gen console: Project Helix. To date, we've only had vague updates about what this machine is, first teased back at GDC in March. The debut will take place via a stream on Xbox's Game Dev Update YouTube channel at 12pm ET/5pm BST. It will be hosted by Chris Charla, general manager of portfolio and programs, and Jason Ronald, VP of next generation. "Chris and Jason will walk through the details shared at GDC, offering a closer look at Project Helix and what it represents for the future of Xbox," says a description of the episode, posted over at Microsoft's game dev blog . "What does Project Helix mean for developers? It's powered by a custom AMD-based SoC and co-designed for the next-generation of DirectX, as part of our ongoing partnership to shape the future of rendering and simulation.…