Nvidia's next-generation Lovelace gaming cards will be priced from $899
Nvidia Corp. unveiled its next-generation chip architecture Tuesday during the keynote address of its GPU Technology Conference, but the chip maker faces a tougher market than it did two years ago when it introduced its new line of gaming chips.
The new gaming chip, which is said to perform up to four times faster than its previous generation RTX 3090 Ti, will be available on Oct. 12. Ahead of the event, however, Nvidia had to take a $1.22 billion inventory charge as it seeks to clear out old inventory prior to the launch.The Lovelace architecture succeeds Ampere, which was unveiled about two months into the COVID-19 pandemic amid strong demand for gaming cards that sent the stock to a 122% gain in 2020, compared with a 51% gain on the PHLX Semiconductor Index SOX, -1.37%.
Read: Chip stocks could plunge another 25% as ‘we are entering the worst semiconductor downturn in a decade,’ analyst says
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