by Nvidia (NVDA) today announced the launch of its new and highly 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 the most modern games at over 100 frames per second at 1440p resolution,” the company said in a statement.
These improvements are aimed at gamers looking for a high-quality visual experience, enabling games such as “A Plague Tale: Requiem”, “Dying Light 2”, “Call of Duty: Modern Warfare II” and “Marvel’s Guardians of the Galaxy ” to be played back at a resolution of over 100 frames per second.
The announcement comes at a good time for Nvidia, which has seen its shares jump nearly 90% year-to-date. In particular, the graphics giant has been considered a key game 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 DGX Cloud, a service Nvidia says gives enterprise customers the supercomputing capabilities they need to train their own generative AI models.
“We’re seeing demand accelerate,” Nvidia CEO Jensen Huang told Yahoo Finance Live in an interview recently. “We are seeing accelerating demand for our DGX AI supercomputers. We are seeing an acceleration in the demand for inference, due to generative AI.”
Even the new GeForce RTX 4070 has an AI corner. For game-focused creators who live stream or do video editing, the new GPU is connected to the Nvidia Studio platform, which includes tools that leverage generative AI such as the Omniverse Audio2Face application. All of this ties into a key feature of Nvidia’s strategy surrounding AI: to give creators individually and companies in general the ability to leverage technology in the way that best suits their business.
“The extraordinary capabilities of generative AI have created a sense of urgency for companies to reinvent their products and business models,” Huang said in the March statement on 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 soar 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 approximately 50 million GPUs to help customers migrate to an AI or Omniverse solution,” he said. “AI software licenses are included with sales of enterprise-grade H100 servers and are also available through cloud services. In simple cases, this would allow teams from different continents to be able to work together in real time on complex projects.”
Allie Garfinkle is Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks and go LinkedIn.
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