Nvidia had launched the GeForce RTX 3090 Ti graphics card back in March this year. Now, the company is planning to announce its next-gen RTX 40-Series GPUs in September.
During an earnings call, Nvidia revealed that it will be showcasing the architecture of the next generation of GPUs on September 20, 2022. The upcoming GPU architecture, codenamed Lovelace, will likely take some time to launch after the announcement.
Nvidia CEO Jensen Huang said that the company is dealing with a decline in consumer GPU demand and excess inventory. “We’ll get through this over the next few months and go into next year with our new architecture,” said the CEO. “I look forward to next month’s GTC conference, where we will share new advances of RTX reinventing 3D graphics in gaming, AI’s continuing breakthroughs and building the metaverse, the next evolution of the Internet,” Huang added.
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According to rumours, Nvidia has the RTX 4080 and RTX 4090 GPUs in the pipeline. Huang stated in the earnings call that the next-gen GPUs and the current RTX 30-series GPUs will exist side-by-side. This could be due to Nvidia’s excess GPU inventory.
Nvidia revealed during the call that its revenue dropped 44 percent from the previous quarter, and fell 33 percent year-on-year. The company blamed “challenging market conditions” for the falling revenue.
Colette Kress, Executive Vice President and Chief Financial Officer at Nvidia explained, “The decline in gaming GPU revenue was sharper than anticipated driven by both lower units and lower ASPs. Macroeconomic headwinds across the world drove a sudden slowdown in consumer demand.” Kress added, “We implemented programs with our Gaming channel partners to adjust pricing in the channel and to price-position current high-end desktop GPUs as we prepare for a new architecture launch.”
The Nvidia GTC 2022 event will be held from September 19 to 22. CEO Jensen Huang’s keynote is scheduled for September 20 at 8AM PT (8:30PM IST).
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