What just happened? AMD has confirmed that its new 'enthusiast class' RDNA 3 graphics cards will hit the market in Q3, 2023. As part of the company's Q2 earnings call this week, CEO Lisa Su said that the upcoming GPUs will expand the company's Radeon 7000 GPU portfolio after the recent launch of the mainstream RX 7600 models.
Prior to the RX 7600 launch, AMD also released a couple of high-end RDNA 3 cards, including the RX 7900 XTX and RX 7900 XT, both based on the Navi 31 GPU. The company has also since unveiled a new Radeon RX 7900 GRE variant, although it's primarily aimed at the Chinese market.
While Su did not name the upcoming 'enthusiast class' cards, online speculations suggest that they could include the RX 7800 XT or even the RX 7950 series. That said, AMD has officially described the RX 7900 SKUs as 'ultra-enthusiast' class in its marketing materials, meaning the company might only be referring to the RX 7800 series, including the 7800 XT, when talking about the 'enthusiast' category.
That chain of thought also tallies with earlier rumors that suggest the company will release the RX 7800 and RX 7700 series cards before the end of this quarter. Reports also claim that a large built-up inventory of the RX 6900/6800 could be among the main reasons for the delay in launching the aforementioned SKUs. An unspecified problem with the deployment of Navi 32 could also reportedly have held back the arrival of the new models.
Alongside its immediate product roadmap, AMD also shared some negative financial news at its latest earnings call. The company reported an 18 percent year-on-year drop in its quarterly revenues and a $20 million operating loss, even as the PC market showed signs of a recovery after several quarters of precipitous fall. AMD's Q2 revenues came in at $5.36 billion, while its GAAP net income stood at $27 million, down 93 percent from the same period last year.
Despite the lower revenues and net earnings, AMD's stock rose 5 percent to $123.5 a share in after-hours trading on Tuesday. According to analysts, that's due to the overall bullishness in AI-related stocks, which have seen a massive surge in investment in recent months. In case you're wondering, AMD is one such company whose processors and GPUs are widely used for AI training and neural network models, which explains why the company's shares are much in demand among stock market investors despite the disappointing Q2 results.