Nvidia slips even as it unveils new lower priced AI-enhanced GPU
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Nvidia (NASDAQ:NVDA) shares slipped slightly more than 1% on Wednesday even as the company unveiled a new lower priced GPU that utilizes artificial intelligence.
In a statement, Nvidia (NVDA) said the new GeForce RTX 4070 uses the Ada Lovelace architecture and can bring DLSS-3 neural rendering and real-time ray-tracing technologies to "millions."
"Making sure games are âRTX ONâ with both ray tracing and DLSS has become a top priority for the majority of PC gamers," Nvidia (NVDA) vice president of marketing Matt Wuebbling said in the release.
The new RTX 4070 chips allow PC gamers to render images on higher-resolution screens faster, making them looking better, using the DLSS technology.
The new GeForce RTX 4070 starts at $599 and is roughly the same for game rendering as the GeForce RTX 3080, utilizing half the power, with an additional 2GB of memory.
San Jose, California-based Nvidia (NVDA) has tended to skew its GPUs towards the higher-end of the market, in some cases, reaching near $1,600.
Some games and industry analysts have complained that Nvidia's (NVDA) GPUs are short on memory, especially compared to offerings from AMD (AMD).
Nvidia (NVDA) added the GeForce RTX 4070 will be available starting tomorrow on the company's website and select retailers. 
Earlier this month, Bank of America maintained its buy rating on the GPU giant, citing "strong share gains" in the market.