According to the release notes (https://developer.apple.com/documentation/xcode-release-notes/xcode-27-release-notes), "Xcode 27 beta requires a Mac running macOS Tahoe 26.4 or later."
I've tried it on my Intel MacBook running macOS Tahoe 26.5, and it wouldn't run. Looking into it, the binary for the application is an arm64 executable only (which explains why it wouldn't run).
Is that a mistake in the release notes, or a mistake with the Xcode 27 beta?