Yes. It has a 802.11 AC chip.
Mat
I agree that is why I disconnected it. It is so bad in my area the other day my printer showed offline even though it is only about 1 meter away from my router until I changed the channel I have over 70 AP networks on 2.4ghz.Thank god it will. I hate that the Chromecast won't.
There is an updated ChromeCast showing up at FCC that shows it have 5GHz.