It’s finally going to happen. Nvidia RTX 30 Series GPUs Drop in Price. After two years of insane GPU prices, things are looking good.
For example, the Nvidia RTX 3080 Ti is now $900, down from a record high of $1,100 ten days ago. But that’s nothing compared to the price drop of the almighty RTX 3090 Ti, which dropped from $2,000 to $1,450.
Jacob Roach / Custom Hour
There is a lot to unpack here. Card watchdog site Videocardz.com noticed a trend in pricing at retailers. Price cuts seemed to hit in mid-July, with major retailers like Newegg pushing prices across the board. Even the less powerful GPUs dropped in price, such as the RTX 3050, which is now on sale for $350, from $390 in June.
Amazon went crazy last week, slashing the price of the RTX 3090 to $999, nearly a $1,000 price cut. But the sale lasted just two days before the price rose to $1,450.
It’s not just shopkeepers. Nvidia has lowered its MSRP for its top four high-end GPU models. For example, the RTX 3080 Ti had a suggested retail price of $1,199 in early July, but Nvidia is now suggesting $1,099 for the same device.
So what’s going on here? Why the weird and sudden price cuts for high-end graphics cards?
We need to start by looking at why prices were so high in the first place, and much of the blame lies in chip supply problems caused by the COVID-19 pandemic. As manufacturing centers like China, Taiwan and India ease the pressure on supply bottlenecks, we get more chips into the market. So, lower prices.
“On the inventory side, we see the supply chain already taking action due to the device’s declining momentum in the smartphone, PC and consumer market segments.” TSMC CEO CC Wei said in an earnings call on July 14, 2022. “We think the current semiconductor cycle will be more like a typical cycle, with a few quarters of inventory adjustment, likely through the first half of 2023.” The Korean chipmaker is one of the world’s largest manufacturers of processing unit components.
Another factor in the high prices was the crazy cryptocurrency boom. Crypto miners were hoarding GPUs for their mining rigs, putting an abnormal pressure on the market. Then China banned crypto mining last year, followed by a massive crash of crypto markets this year. Mining doesn’t look as profitable and demand for GPUs has stabilized.
Finally, Nvidia is expected to announce its new RTX 40 series chips sometime later this year. Price cuts are a great way to get rid of old stock and make way for new stuff.
If you’re running an older GPU, now is the time to upgrade to a top-of-the-line RTX 30 series. The 3080 and 3090 cards are monsters, and such prizes won’t last long.