Android 7.1.2 Nougat factory images, OTA files released for Nexus and Pixel devices1
Not long ago, the Android 7.1.2 Nougat builds for all compatible Nexus and Pixel devices made it on Google's dev website. Keep in mind though that there are two devices that will not be getting the update, specifically the Nexus 6 and Nexus 9.
The following Pixel and Nexus devices can be now be upgraded to Android 7.1.2 Nougat: Pixel, Pixel XL, Pixel C, Nexus Player, Nexus 5X, and Nexus 6P.
Even if you haven't yet received the update on your Nexus or Pixel devices, you can download the OTA image manually and flash it yourself.
Android 7.1.2 Nougat brings a couple of improvements and fixes, such as better fingerprint swipe performance, battery usage alerts, and Bluetooth connectivity enhancements.
According to Google, “some of the other fixes are with the early shutdown issue, a fix for the small number of users experiencing pink banding on the camera, and a fix to the audio popping issue some users were experiencing at high volumes.”
Of course, the update includes the latest April security patch, which hasn't been released by any other handset maker yet.