The Dell S2725DS is a 27-inch QHD monitor with a resolution of 2560 x 1440 pixels, It features 8 bits/color and a refresh rate of 48 Hz to 100 Hz.
connectivity includes:
DisplayPort 1.2 which supports HBR2 at 17.28 GB/sec
Dual-Link DVI
Analog VGA
directly from a port on your Mac, that display can be supported with an ordinary USB-C adapter to DisplayPort, provided no single cable exceeds one meter in length.
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The specs for the new 27-in XDR display are somewhat ambiguous:
Connections:
Two Thunderbolt 5 ports (up to 120Gb/s) and two USB-C ports (up to 10Gb/s)
- One upstream Thunderbolt 5 port () for host (with 140W host charging)
- One downstream Thunderbolt 5 port () for connecting high-speed accessories or daisy-chaining additional displays
- Two USB-C ports (up to 10Gb/s) for connecting peripherals, storage, and networking
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As I read that spec, it is saying the display is willing to connect an additional Thunderbolt high speed accessory or additional genuine Thunderbolt Display.
It may not be willing to act as a Full ThunderBolt hub and provide a DisplayPort interface to an ordinary USB-C device or adapter on its Thunderbolt port.
So if the survival of your business depends on being able to do that display chaining, I suggest you not bet on it until that device is out in the wild and users can test it.
https://www.apple.com/studio-display-xdr/specs/
At the speeds (USB-3) display speeds you require, IF the USB-C ports will allow display data, that is all you need to support your additional display.
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What is fascinating about the old model '6K Apple Pro Display XDR' is that it uses up BOTH of the possible display connections all by itself:
The 6K Apple Pro Display XDR, which macOS allows to connect using two HBR3 connections to a Mac, doesn't support Display Stream Compression (DSC). That would be 51.84 Gbit/s, impossible for Thunderbolt 3, but it works because the two 3008×3384 10bpc 60 Hz 648.91 MHz signals of the XDR display only require 38.9 Gbit/s total and Thunderbolt does not transmit the DisplayPort stuffing symbols used to fill the HBR3 bandwidth.
https://en.wikipedia.org/wiki/Thunderbolt_(interface)