during his Earnings call for the second quarter of fiscal 2023NVIDIA’s CEO confirmed that its next-generation GPUs, the GeForce RTX 40 series, are coming very soon.
NVIDIA CEO on next-gen GeForce RTX 40 GPU launch: “We have an exciting new next-gen” announcement in September?
NVIDIA’s second quarter this year has been brutal, with gaming revenue down 44% sequentially and 33% year over year. You can read the full earnings report from our Finance team here but what we’re going to talk about is the fact that NVIDIA CEO Jensen Huang has confirmed that their next-gen GPUs are back.
NVIDIA confirmed that its price adjustment on existing graphics cards came in an attempt to get rid of excess inventory to make room for the next generation of products. Jensen claims that the next generation graphics cards and GPU architecture will be really exciting, which he can read in the statement provided below:
Our strategy is to reduce the sale: reduce the sale this quarter, next quarter to allow the channel inventory to correct itself. Obviously, we are off the highs and the macroeconomic condition has drastically worsened. So our first strategy is to reduce sales in the coming quarters to correct channel inventory. We have also instituted programs to position the price of our current products to prepare for the next generation of products.
Ampere is the most popular GPU we’ve ever made. It is among the top 15 most popular gaming GPUs on Steam. And it is still the best GPU in the world, and it will be very successful for some time. However, we have a new and exciting next generation coming up and it will overlap with that. So, we’ve taken… we’ve done two things. We have reduced the sale to allow channel inventory to correct and we have implemented programs with our partners to position product prices in the channel in preparation for our next generation.
We anticipated that all of this was working towards a path to be in good shape for the next year. OKAY? So that’s our game plan.
NVIDIA CEO: Jensen Huang (Q2 2023 Earnings Call)
What’s more important is the fact that Jensen also gave us a hint that we may hear more about next-gen gaming GPU architecture by next month at GTC 2022. The next NVIDIA GTC iteration will take place on September 19 and will last until September 22, while the CEO keynote is expected to take place on September 20.
At Gaming, our partners and ecosystem are responding to a sudden slowdown in consumer demand and correcting channel inventory. Still, the fundamentals of the games are solid. We will get through this in the coming months and enter next year with our new architecture. I hope to tell you more about this at GTC next month.
I’m looking forward to next month’s GTC conference where we’ll be sharing new RTX trailers that reinvent 3D graphics and gaming.
NVIDIA CEO: Jensen Huang (Q2 2023 Earnings Call)
So it looks like we’re more or less going to have an official to present it next September. This will definitely not be a launch event for the next-gen GeForce RTX 40 series lineup, but more of an announcement/introduction. We definitely look forward to what NVIDIA has in store for the gaming community.
