Nvidia’s Turing graphics chips are finally in after a two-year wait.
The chip manufacturer unveiled its eighth-generation Turing graphics architecture at a conference in Vancouver on Monday.
Nvidia CEO and founder Jensen Huang said, “Turing is NVIDIA’s most important innovation in computer graphics in more than a decade,” at the SIGGRAPH conference, according to a company release. “Hybrid rendering will change the industry, opening up amazing possibilities that enhance our lives with more beautiful designs, richer entertainment, and more interactive experiences. The arrival of real-time ray tracing is the Holy Grail of our industry”, he quoted.
On Tuesday, Nvidia shares rose 1.7 percent. Its stock was up 32 percent this year through Monday against the S&P 500’s 6 percent gain.
According to a Wall Street analyst, the new chips will drive the company’s sales upward, this year.
NVIDIA Announces Turing GPU
Raymond James analyst Chris Caso said in a note to clients, “NVIDIA launched the Quadro RTX line of workstation cards, featuring the new Turing GPU core, which is 1.7x larger in terms of size/transistors” entitled “Utterly Awesome — NVIDIA Announces Turing GPU” on Monday. “While GeForce gaming cards were not launched Monday night, we do expect gaming cards featuring Turing to be launched shortly. We expect the new gaming product cycle to be a catalyst for NVIDIA’s stock in 2018.”
Caso reiterated his outperform rating and $300 price target for Nvidia shares, representing 17 percent upside to Monday’s close.
Earlier this week, Cowen noted that Nvidia’s gaming business sales rose by 46 percent in the year after it launched the last big chip, Pascal, in May 2016.
Nvidia said Quadro professional workstation graphics cards with Turing technology will be available in the fourth quarter of this year. The company is scheduled to deliver its July quarter earnings report on Thursday.