Power

Nvidia ignores the console wars and doubles down on GPUs

PC gaming is still a huge market, and Nvidia isn't afraid to commit to it.

Nvidia ignores the console wars and doubles down on GPUs

The company's new cards will be released later this month.

Photo: Nvidia

What next-generation gaming consoles? The real action in the $160 billion video game business is on PCs.

That was Nvidia's dismissive subtext on Tuesday as the company unveiled its first major new line of consumer graphics hardware in two years. While Sony and Microsoft are yet to reveal pricing and timing details for their new game machines expected this fall, Nvidia is getting on the all-important holiday wish lists early, with specific product announcements that will make many gamers' eyes water.

In addition to announcing a new line of powerful PC graphics cards for the fall — ranging from $500 to $1,500 — Nvidia also flaunted its tight relationships with many of the largest and most popular game developers. Nvidia and Epic Games — which is locked in a high-stakes antitrust lawsuit with Apple — announced that Fortnite, Epic's flagship franchise, would soon add support for Nvidia's ray-tracing technology, which generates more realistic and immersive lighting effects. Nvidia also revealed footage of two other highly anticipated games — Call of Duty: Black Ops Cold War (from Activision Blizzard) and Cyberpunk 2077 (from CD Projekt) — that will use the same technology.

PCs are the world's most popular gaming platform with about 1.5 billion players — roughly half of the 3 billion gamers worldwide. By contrast, only about 8% of gamers globally appear to be dedicated console players. That's one reason why Nvidia, the leader in PC graphics, does not appear especially chagrined that both Microsoft and Sony opted for graphics systems from AMD for their new consoles. Dedicated PC gamers will pay more for a single graphics card than console gamers pay for their entire systems.

Wearing his trademark leather jacket and standing in his home's kitchen, Jensen Huang, Nvidia's chief executive, announced that the company's new 3070 card would be released next month starting at $499, the 3080 card would be released Sept. 17 starting at $699 and the 3090 (continuing a new trend of revealing hardware from his oven, saying "Come here, papa") would arrive Sept. 24 starting at $1,499. The company said that the 3080 — which Huang called the company's new "flagship," presumably because of what it sees as a sweet-spot positioning of price and performance — delivers up to twice the horsepower of current 2080 cards, which can cost up to $1,200.

In addition to the new cards, Nvidia also revealed new software to improve the performance of older cards; enable advanced machinima storytelling; and improve video and audio streaming quality.

Fintech

The crypto crash's violence shocked Circle's CEO

Jeremy Allaire remains upbeat about stablecoins despite the UST wipeout, he told Protocol in an interview.

Allaire said what really caught him by surprise was “how fast the death spiral happened and how violent of a value destruction it was.”

Photo: Heidi Gutman/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

Circle CEO Jeremy Allaire said he saw the UST meltdown coming about six months ago, long before the stablecoin crash rocked the crypto world.

“This was a house of cards,” he told Protocol. “It was very clear that it was unsustainable and that there would be a very high risk of a death spiral.”

Keep Reading Show less
Benjamin Pimentel

Benjamin Pimentel ( @benpimentel) covers crypto and fintech from San Francisco. He has reported on many of the biggest tech stories over the past 20 years for the San Francisco Chronicle, Dow Jones MarketWatch and Business Insider, from the dot-com crash, the rise of cloud computing, social networking and AI to the impact of the Great Recession and the COVID crisis on Silicon Valley and beyond. He can be reached at bpimentel@protocol.com or via Google Voice at (925) 307-9342.

Sponsored Content

Foursquare data story: leveraging location data for site selection

We take a closer look at points of interest and foot traffic patterns to demonstrate how location data can be leveraged to inform better site selecti­on strategies.

Imagine: You’re the leader of a real estate team at a restaurant brand looking to open a new location in Manhattan. You have two options you’re evaluating: one site in SoHo, and another site in the Flatiron neighborhood. Which do you choose?

Keep Reading Show less

A DTC baby formula startup is caught in the center of a supply chain crisis

After weeks of “unprecedented growth,” Bobbie co-founder Laura Modi made a hard decision: to not accept any more new customers.

Parents unable to track down formula in stores have been turning to Facebook groups, homemade formula recipes and Bobbie, a 4-year-old subscription baby formula company.

Photo: JIM WATSON/AFP via Getty Images

The ongoing baby formula shortage has taken a toll on parents throughout the U.S. Laura Modi, co-founder of formula startup Bobbie, said she’s been “wearing the hat of a mom way more than that of a CEO” in recent weeks.

“It's scary to be a parent right now, with the uncertainty of knowing you can’t find your formula,” Modi told Protocol.

Keep Reading Show less
Nat Rubio-Licht

Nat Rubio-Licht is a Los Angeles-based news writer at Protocol. They graduated from Syracuse University with a degree in newspaper and online journalism in May 2020. Prior to joining the team, they worked at the Los Angeles Business Journal as a technology and aerospace reporter.

Enterprise

Celonis vows to stay independent despite offers from SAP, ServiceNow

Celonis is convinced standalone mining vendors can survive. But industry consolidation paints a different picture, and enterprise software giants are circling.

Celonis CEO Alex Rinke turned down offers from ServiceNow and SAP, according to sources.

Photo: Celonis

For the past decade, any software vendor that touted new levels of automation and data-driven insights appeared to have seemingly unrestricted access to capital. Now, as valuations drop and fundraising becomes more difficult, founders and company leaders are facing a difficult decision: look to be acquired or try to go it alone.

At Celonis — which, at an $11 billion valuation, is one of the buzzier software upstarts — that question appears to have already been decided. Enterprise software giants ServiceNow and SAP made offers in the past year to buy the process-mining firm, according to sources familiar with the deliberations, which were turned down because the Celonis leadership team wanted to remain independent.

Keep Reading Show less
Joe Williams

Joe Williams is a writer-at-large at Protocol. He previously covered enterprise software for Protocol, Bloomberg and Business Insider. Joe can be reached at JoeWilliams@Protocol.com. To share information confidentially, he can also be contacted on a non-work device via Signal (+1-309-265-6120) or JPW53189@protonmail.com.

Enterprise

SaaS valuations cratered in early 2022. But these startups thrived.

VCs were still bullish on supply chain, recruiting and data startups despite the economic environment that chopped the valuations of newly public companies and late-stage enterprise startups.

While private equity has been investing in enterprise tech for decades, the confluence of several trends in the sector is making it more competitive than ever before.
Image: Getty Images; Protocol

Despite a volatile tech stock market so far this year that has included delayed IPOs, lowered valuations and declining investor sentiment, a few enterprise tech categories managed to keep getting funding. Data platforms, supply chain management tech, workplace software and cybersecurity startups all dominated the funding cycle over the past quarter.

When it comes to enterprise SaaS, the number of mega-deals — VC funding rounds over $100 million — spiked last year, according to data from Pitchbook. Partially driven by the onset of a pandemic that accelerated the need for everything from contact centers to supply chains to move into the cloud, the number of large VC deals tripled between 2020 and 2021. That growth has extended into this year, where the number of mega-deals has already outpaced all of 2020.

Keep Reading Show less
Aisha Counts

Aisha Counts (@aishacounts) is a reporter at Protocol covering enterprise software. Formerly, she was a management consultant for EY. She's based in Los Angeles and can be reached at acounts@protocol.com.

Latest Stories
Bulletins