NVIDIA CEO on launch of next-gen GeForce RTX 40 GPUs: “We have exciting new next generation coming”, September announcement?
NVIDIA’s second quarter this year was brutal, with gaming revenue down 44% sequentially and 33% year-over-year. You can read our financial team’s full earnings report here, but what we’re going to talk about is the fact that NVIDIA CEO Jensen Huang confirmed that next-gen GPUs are coming. NVIDIA confirmed that the price adjustment to existing graphics cards was done in an effort to get rid of excess inventory to make room for the next generation of products. Jensen states that the next generation graphics cards and GPU architecture will be really exciting, which you can read from the statement provided below: Our strategy is to reduce sales — reduce sales this quarter, next quarter to allow the channel inventory to correct. Obviously, we are off the highs and the macro situation has taken a sharp turn for the worse. So our first strategy is to reduce sales in the next two quarters to fix the channel inventory. We also instituted programs to price our current products in preparation for next-generation products. Ampere is the most popular GPU we’ve ever built. It’s in the top 15 most popular gaming GPUs on Steam. And it remains the best GPU in the world and will be a big hit for some time. However, we have an exciting new generation coming up that will be placed on top of that. And so, we took — we did two things. We reduced sales to allow channel inventory to be corrected and implemented programs with our partners to position product prices in the channel in preparation for our next generation. All of this hopefully worked towards a path for us to be in good shape next year. Okay; So this is our game. NVIDIA CEO – Jensen Huang (Q2 2023 Earnings Call) More importantly, Jensen also gave us a hint that we may hear more about the next-gen gaming GPU architecture by next month at GTC 2022. The next iteration of NVIDIA GTC will take place on September 19 and run until September 22, while the CEO’s keynote speech is expected to take place on September 20. At Gaming, our partners and ecosystem respond to a sudden slowdown in consumer demand and fix channel inventory. However, the fundamentals of the game are strong. We will overcome this in the coming months and continue next year with our new architecture. I look forward to telling 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 advances that are reinventing 3D graphics and gaming. NVIDIA CEO – Jensen Huang (Q2 2023 Earnings Call) So it looks like we’ll pretty much have an official reveal next month in September. This will definitely not be a launch event for the next-gen GeForce RTX 40 series, but more of an announcement/reveal. We’re certainly looking forward to what NVIDIA has in store for the gaming community.
