During its Q2 2023 earnings call, NVIDIA’s CEO confirmed that its next-generation GPUs, the GeForce RTX 40 series, are coming soon.
NVIDIA CEO on launch of next-gen GeForce RTX 40 GPUs: ‘We have an exciting new generation’, 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-generation GPUs are incoming.
NVIDIA confirmed that its price adjustment to existing graphics cards occurred 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 you can read in the statement provided below:
Our strategy is to reduce sales – reduce sales this quarter and next quarter to allow the channel inventory to be correct. Obviously, we are off the highs and the macro situation has gotten much worse. So our first strategy is to reduce sales in the next two quarters to correct the channel inventory. We have also created programs to position the price of our current products to prepare 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 they are still the best GPUs in the world, and will be very successful for some time. However, we have an interesting new generation and it will be coming up. And so, we’ve taken – we’ve done two things. We’ve reduced sales to allow channel inventory to be right and implemented programs with our partners to position product pricing in the channel in preparation for our next generation.
All of this we anticipated that we were working to get a path to be in good shape next year. Okay? So that’s our game plan.
NVIDIA CEO: Jensen Huang (Q2 2023 Earnings Call)
More importantly, Jensen also hinted that we might hear more about next-gen gaming GPU architecture next month at GTC 2022. The next iteration of NVIDIA GTC will take place on September 19 and will last until September 22, while the CEO conference is expected to take place on September 20.
In Gaming, our partners and ecosystems respond to a sudden slowdown in consumer demand and correct channel inventory. Still, the fundamentals of the games are strong. We’ll get through it over the next few months and start next year with our new architecture. I look forward to telling you more at the GTC next month.
I’m looking forward to next month’s GTC conference, where we’ll share new RTX advances reinventing 3D graphics and gaming.
NVIDIA CEO: Jensen Huang (Q2 2023 Earnings Call)
So it looks like we will more or less have an official one to present next month in September. This will definitely not be a launch event for the next generation GeForce RTX 40 series, but more of an announcement/reveal. We certainly look forward to what NVIDIA has in store for the gaming community.