Nvidia (NVDA) today announced the launch of its new and much-anticipated graphics card, called the GeForce RTX 4070.
The graphics processing unit, or GPU, starts at $599 and will be available starting tomorrow. Its features include "DLSS 3 neural rendering, real-time ray-tracing technologies, and the ability to run most modern games at over 100 frames per second at 1440p resolution," the company said in a statement.
These enhancements are geared towards gamers looking for a high-quality visual experience, enabling games like "A Plague Tale: Requiem," "Dying Light 2," "Call of Duty: Modern Warfare II," and "Marvel’s Guardians of the Galaxy" to be played at a resolution of more than 100 frames each second.
The announcement comes at a good time for Nvidia, which has seen its shares climb nearly 90% year-to-date. Notably, the graphics giant has been considered a key play for those looking to invest in artificial intelligence (AI). The company doubled down on AI at its GTC 2023 developer conference last month, announcing products like the DGX Cloud, a service that Nvidia says offers business customers the supercomputing abilities necessary to train generative AI models of their own.
“We are seeing an acceleration in demand,” Nvidia CEO Jensen Huang recently told Yahoo Finance Live in an interview. “We’re seeing an acceleration of demand for our DGX AI supercomputers. We’re seeing an acceleration of demand for inference, because of generative AI.”
Even the new GeForce RTX 4070 has an AI angle. For gaming-focused creators who livestream or do video editing, the new GPU is linked to the Nvidia Studio platform, which includes tools that leverage generative AI like the Omniverse Audio2Face application. This all links up with a key feature of Nvidia's strategy surrounding AI – giving creators individually and companies at-large the ability to leverage the tech however it best suits their business.
“The impressive capabilities of generative AI have created a sense of urgency for companies to reimagine their products and business models,” Huang said in March statement around GTC. “We are at the iPhone moment of AI.”
One example: Nvidia recently launched its new AI Foundations service, which will help companies build their own generative AI models. Ultimately, the chipmaker's data center arm, which includes its AI initiatives, saw its annual revenue balloon from $2.98 billion in 2019 to $15 billion in 2022.
From here, Nvidia still has room to run, Piper Sandler Analyst Harsh Kumar wrote in a March 29 note
"NVDA is able to leverage its unique hardware install base of ~50M GPU to help migrate customers towards an AI and or Omniverse solution," he said. "AI software licenses are included with sales of enterprise level H100 servers and are also available via cloud services. In simple cases, this would allow teams across different continents to be able to work together in real time on complex designs."
Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks and on LinkedIn.
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