Cloud Mercato tested CPU performance using a range of encryption speed tests:
Cloud Mercato's tested the I/O performance of this instance using a 100GB General Purpose SSD. Below are the results:
I/O rate testing is conducted with local and block storages attached to the instance. Cloud Mercato uses the well-known open-source tool FIO. To express IOPS the following parametersare used: 4K block, random access, no filesystem (except for write access with root volume and avoidance of cache and buffer.
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AWS is launching an Elastic Cloud Compute (EC2) powered by custom Intel Xeon Scalable processors, otherwise known as Sapphire Rapids.

Best for CPU-based machine learning applications (up to 400 Gbps), gaming servers, video streaming apps

Ideal for workloads that need continuous high CPU performances for larger applications

15% better price performance compared to M6i instances and DDR5 memory

Offers price-performance benefits for workloads that need the largest instance sizes or continuous high CPU use

So which CPU is used for M7i Instance? And How many accelerators does M7i have?

I understand your explanation, but the reason why AWS took the decision is not clear, as the equivalent ARM instance type, m7g, has m7gd instance types, so is not only a matter of "consistency across different instance types"

m7i instances in AWS don't have built-in storage like previous types. Instead, they use EBS volumes for storage. AWS likely chose this because EBS is more flexible, reliable, and consistent across different instance types. It also allows for better cost management.

As you are aware, as of May 2024, there are no m7i series instance types with NVMe-based volumes.

I'm migrating from previous instance type m6id to m7i and I cannot migrate using the same storage configuration as m7i instance type has no Instance Storage

AWS has launched two new Amazon EC2 instances to manage the varying virtual workloads across multiple environments. The two new instances of Amazon Elastic Computer Cloud or Amazon EC2 are: M7i-Flex and M7i

So which CPU is used for M7i Instance? And How many accelerators does M7i have?

This video guides when to select m7i or m7i-flex AWS EC2 instances and difference between them.

HWInfo tool showed the reality, turbo frequency up to 3.8 GHz.

The M7i[1] EC2 instance types supports CPU Clock Frequency of upto 3.2 GHz. The Windows Task Manager does not show the Turbo Frequency on the Nitro Based EC2 instances. You can get information about Turbo Frequency using third party tools such as HWInfo[1]. This issue doesn’t limit the instance from using the Turbo Frequency.