Nvidia Rolls Out Next-Generation GeForce RTX 30 Series GPUs

Nvidia CEO Jensen Huang called the new cards a 'generational leap,' and introduced other new tech aimed at hardcore gamers.
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Chip giant Nvidia unveiled a new set of graphics cards that CEO Jensen Huang called the "greatest generational leap in company history."

The new cards, called the GeForce RTX 30 Series, are the second generation of Nvidia's GeForce RTX lineup. They are the first line of gaming cards to be built on Nvidia's Ampere architecture, which it announced in May. 

Shares of Nvidia  (NVDA) - Get Report rose 3.4% to $552.82 on Tuesday. 

The new GPU lineup includes a trio of cards: a flagship GeForce RTX 3080, GeForce RTX 3070, and GeForce RTX 3090. The company says the new cards will significantly improve gaming performance, speed and photorealism. 

The GeForce RTX 3090 is the first GPU to make is possible to play games at 60 frames per second in 8K resolution, which is equivalent to 4 times the pixels of 4K and 16 times the pixels of 1080p. 

At a media preview on Monday, Huang also introduced a slate of new tools for GeForce gamers. Those include Nvidia Reflex, a package of GPU and other technology to improve rapid response in gaming; Nvidia Omniverse Machinima, which allows gamers to convert game footage into cinematography; and Nvidia Broadcast, an app that improves broadcast quality for game streamers. 

Nvidia's stock has soared to record highs this year, driven in part by heavy gaming consumption during the COVID-19 pandemic. 

“Growth in GeForce gaming accelerated as gamers increasingly immerse themselves in realistic virtual worlds created by NVIDIA RTX ray tracing and AI," said CEO Jensen Huang in Nvidia's second quarter earnings release. 

For the quarter ending in July, Nvidia reported total revenue of $3.87 billion on earnings of $2.18 per share, topping analysts' forecasts on both counts. 

Nvidia's stock is up 130% year to date. 

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