Now here is something really interesting. While we still haven’t seen a bug-free Playstation 3 emulator, coder AlexAltea is working on the first dedicated Playstaion 4 emulator for Windows and Linux. This PS4 emulator is called Orbital, is still in a very early stage, and it does not run any commercial games yet.
Do note, however, that this emulator is still not ready for end users. As AlexAltea noted, no binaries are provided, so players must build each of the three components (BIOS, GRUB, QEMU) themselves. Furthermore, configuring the emulator to do something will be hard, as you will need to dump and decrypt the entire PS4 filesystem and sflash, including the kernel.
So yeah, this is still a ways off from actually running any game. Still, those interested can download Orbital from here. You can also find the roadmap for Orbital here.
AlexAltea has also shared the following video, showing the emulator in action.