Advanced Micro Devices, Inc. (NASDAQ: AMD), which has been riding on its product momentum in recent years, announced Wednesday a new graphics card. What Happened: Santa Clara, California-based AMD officially launched its Radeon RX 6700 XT graphics card in a bid to capitalize on the strong demand from the gaming market. The new video card is designed to provide exceptional performance, stunningly vivid visuals and advanced software features to redefine 1440p resolution gaming, the company said in a statement. “The AMD Radeon RX 6700 XT graphics card hits the sweet spot for 1440p gaming. For most gamers still playing on three-to-four-year-old graphics cards, it is the perfect upgrade solution designed to deliver incredible visuals and no-compromises, high-refresh 1440p gaming performance at maximum settings, said Scott Herkelman, a Graphics Business Unit executive at AMD. Related Link: AMD Analyst Projects Strong Start To 2021 For Chipmaker The Specs: The RX 6700 XT is based on the RDNA 2 gaming architecture, and it has 96MB of high-performance AMD Infinity Cache, 12GB high-speed GDDR6 memory, AMD Smart Access Memory, among other elements. The new graphics card can deliver up to two times higher gaming performance in select tiles compared to the current installed base of older-generation cards, AMD said. The company said Radeon RX 6700 XT cards will be available for purchase from its website, its board partners and e-tailers/retailers, beginning March 18. It is priced at $479. HP Inc.’s (NASDAQ: HPQ) refreshed OMEN 25L and 30L desktop gaming systems are expected to be available this spring, AMD said. Additional pre-built systems from OEM and SI partners are expected to become available in the coming months. AMD Price Action: At last check, AMD shares were sliding 2.02% to $82.11. Related Link: Mizuho’s Top Semiconductor Stocks For 2021: Do You Own Them? (Photo: AMD) See more from BenzingaClick here for options trades from BenzingaNvidia’s New Ethereum Mining Chip: What You Need To Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.