We have been waiting and they are finally in, SharePoint Online and OneDrive for Business max file size and storage has been updated. Here is what has changed, and suspect a lot of people will be happy to hear it.
Max File Size Increase
File Size has now been increased to 10 GB per file; it was 2 GB. This increase is for SharePoint Online and OneDrive for Business. You can now store those bigger files and it really helps with storage of videos that can be used with Office 365 Video.
Additional Default Storage Per Tenant
More pooled storage has been added to the tenant by default. Now every tenant will get 1 TB plus .5 GB per user for pooled SharePoint Online storage; it used to be 10 GB plus .5 GB per user.
OneDrive for Business Storage Increase
Unlimited storage is still going to be delivered for OneDrive for Business. The first phase of that expansion was to increase OneDrive for Business storage per user from 1 TB to 5TB per user. This increase has now been completed.