Price cuts and exciting reveals are coming, says Nvidia CEO

Price cuts and exciting reveals are coming, says Nvidia CEO

It’s good news all around for Nvidia enthusiasts today, because Nvidia CEO Jensen Huang has teased some exciting updates that are just around the corner.

We now know for a fact that the company is planning to reveal more information about its upcoming Ada Lovelace RTX 4000-series of GPUs. Moreover, current-gen GPUs might soon see another drop in price.

NVIDIA CEO Jensen Huang on stage.

We’ve come a long way from the dark depths of the GPU shortage. Graphics cards are currently in abundance, and now, the CEO of Nvidia has confirmed this himself during the company’s earnings call for the second quarter of 2022. Huang explained that the company now faces a tough task: reducing the oversupply of current-gen RTX 3000-series graphics cards before it moves on to the next generation.

Huang confirmed that Nvidia has an “excess inventory” of Ampere graphics cards. The inventory itself could be dealt with, but the pricing doesn’t work in the favor of the GPUs. While GPU prices have been dropping, in many parts of the world RTX 3000-series graphics cards are still very expensive — this is especially true for high-end models like the RTX 3080 and the RTX 3090.

According to Huang, Nvidia is working with its partners to improve the pricing of these GPUs. However, he didn’t elaborate on what kind of price cuts we can expect, or which parts of the world are going to see a change. So far, the U.S. market has seen some discounts on the best GPUs, but that trend has been slow to spread throughout the rest of the globe.

“Our first strategy is to reduce sell-in in the next couple of quarters to correct channel inventory. We’ve also instituted programs to price position our current products to prepare for next-generation products,” said Huang during the earnings call.

The Nvidia CEO also noted that Ampere has been the most popular GPU the company has ever created. Because of that, Nvidia expects it to remain successful for quite some time, and rightfully so. If the company can successfully carry out price cuts, many users will still continue buying RTX 3000-series GPUs instead of spending what will likely be a huge amount of money on RTX 4000-series GPUs.

Jensen Huang holds signed RTX 3090 box.

This brings us to the second exciting bit of information that Huang shared with the public: Nvidia seems close to revealing some tangible information about the RTX 4000 graphics cards. So far, most of what we know comes from rumors, but Huang promised to tell us more about it soon, saying, “I look forward to next month’s GTC conference, where we will share new advances of RTX reinventing 3D graphics and gaming.”

GTC 2022 is scheduled to start September 19 and end September 22. This means we’re less than a month away from an official reveal of the next generation of Nvidia graphics cards.

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