Monday at the Annual Siggraph conference, chief executive Jensen Huang of Nvidia announced their rollout of new Turing based chip sets. Essentially, the product is aimed to change the industry by providing a product capable of real-time ray tracing and other forms of hybrid rendering possible. This is a huge breakthrough in the GPU industry and computing as a whole.
Nvidia Corporation (NASDAQ:NVDA) has been a front-runner in computer technology such as personal computers as well as graphics processing units (GPU). Specifically, Nvidia operates under two segments with one being responsible for GPU’s and GPU related software, whilst the other segment is responsible for whole computer set-ups.
Likely due to the rise of computer gaming, as well as the use of Nvidia’s products for cryptocurrency mining, NVDA is up 35% since the beginning of the year. Looking back a bit longer, NVDA is also up 65% since the end of August last year.
Huang stated that this new technology has potential to “change the industry, opening up amazing possibilities that enhance our lives with more beautiful designs, richer entertainment and more interactive experiences.” He also mentions that real-time ray tracing, an advanced form of rendering that requires advanced hardware, is the “Holy Grail of our industry.”
Nvidia plans to release three new graphics cards utilizing the new software in the fourth quarter. Prices are reported to range from $2,300 up to $10,000.
The company is still yet to release information about new developments geared towards gamers, which is one of their primary markets. MarketWatch stated that many believe the announcement could come at the Gamescom expo in Germany later on this month.
The graphics processing unit market is teeing up to be explosive. You may not notice but GPUs are in just about every device that has a screen or display. That means, in a growing technological space, the need for advanced graphics will continue to rise too.
In an Allied Market Research study by Ayushi Bajpai, the associates forecast that the GPU market will reach $157.1 billion, globally by 2022. It will be exciting to see how the market reacts with the growing demand for Virtual Reality and Augmented Reality products.