NVIDIA Corp.  (NVDA) - Get NVIDIA Corporation Report took the wraps off three new GPUs today, which CEO Jensen Huang likened to "the Holy Grail of our industry." 

The new GPUs, dubbed Quadro RTX 8000, Quadro RTX 6000 and Quadro RTX 5000, were unveiled by Huang at the SIGGRAPH conference in Vancouver, and were described as a leap forward for film studios and production houses that deal in complex visual effects.

"Designers and artists can interact in real time with their complex designs and visual effects in ray-traced photo-realistic detail," NVIDIA Vice President Bob Pette said in a news release. "And film studios and production houses can now realize increased throughput with their rendering workloads, leading to significant time and cost savings."

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The new GPUs are capable of "ray tracing" technology, which is an image processing technique that allows graphics producers to render and edit images in real time with no lag. NVIDIA says that the Quadro RTX line is the first GPU capable of real-time ray tracing.

The new GPUs are the first to be build using NVIDIA's new Turing architecture, which is the NVIDIA's eighth generation of GPU architecture. The company says that the improved performance means that applications can simulate the physical world at six times the speed of NVIDIA's previous generation of architecture, Pascal.

Huang described the Turing architecture to the audience as "NVIDIA's most important innovation in computer graphics in more than a decade"

"The announcements are significant in two ways. Real-time ray tracing is a big deal as it removes one of the big challenges, which was its lagginess. I expect more developers to use ray tracing in the future driven by the launch of this card," said Patrick Moorhead of Moor Insights & Strategy. "This also is NVIDIA's first card with its new Turing architecture which from a raw performance per watt standpoint, looks pretty good."

Following the announcement on Monday, NVIDIA's stock was up roughly 0.52% in after-hours trading.