For the past several weeks, tech publications and PC forums were abuzz with talks and rumors about Nvidia's latest GPU offering, the GeForce GTX 1080 Ti. Now, those rumors can finally be laid to rest as Nvidia has now officially launched the long-awaited new GPU. Based on the details that were revealed, the new GeForce GTX 1080 Ti will apparently not only wow consumers with its performance, but also with its low price point.

A report from ARS Technica reveals that Nvidia will be releasing the powerful new GPU to the public next week. The new GeForce GTX 1080 Ti will also be priced at a surprisingly low $699. Given that the new GPU will be slightly faster than the $1,200 Titan X, the price of the 1080 Ti is a relative steal.

Majority of the internals of the GeForce GTX 1080 Ti are actually quite similar to the Titan X. Both cards use the same GP102 chips with 224 texture units, 3,584 stream processors, and 28 SMs. However, the 1080 Ti had an odd amount of memory with 11GB of GDRR5X compared to the 12GB on the Titan X.

The GeForce GTX 1080 Ti's 11GB memory, however, has a higher frequency at 11GHz, which translates to a slightly higher memory bandwidth of 484GB/s. The GPU boost clock is also higher at 1.6 GHz base and up to 2.0 GHz when overclocked. The card comes with a TDP rating of 250W, which means that additional power connectors are required much like its other siblings.

All in all, the configuration of the GeForce GTX 1080 Ti's hardware translates to a 35 percent increased performance when compared to the standard GTX 1080, at least according to Nvidia. Additionally, the card does come with an improved vapor chamber design that results in better cooling performance and a quieter card overall. Partners and third-party manufacturers will likely bring this further with custom setups.