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NVIDIA cuts the prices of its RTX 3080 GPUs by 35% in Australia

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It was reported earlier that NVIDIA was reducing GPU costs, a slew of other sites have begun to confirm the downward price trend. The most fascinating news comes from HardwareUnboxed (via Videocardz), which claims that pricing for the RTX 3080 GPU in Australia has dropped from $2299 to $1499 overnight, a 35% drop.

When you combine this with the fact that many shops are attempting to reduce inventory in case the bubble breaks, you have the perfect storm for a significant drop in worldwide GPU pricing.

The ASUS GeForce RTX 3080 TUF Gaming OC is the GPU in issue, and its price dropped by 35% overnight. A 35 percent drop in one day is unheard of, and shops are probably trying to get rid of GPUs as cheaply as possible. As prices continue to rise, we can expect some shops to face losses to get rid of GPU inventory. The profitability of GPU mining will be effectively reduced when Ethereum 2.0 merges in the second half of the year.

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This will cut the mining premium on GPUs in half and twice the time it takes for a GPU to pay for itself. We’re still dealing with a semiconductor supply shortage, but with miners shuttering their operations, a rush of second-hand GPUs is expected to drive down global costs.

Another tweet from 3DCenter, which has been watching GPU aggregates for some time, shows that the high-end RTX 3090 is also at its lowest pricing since August. It’s also possible that NVIDIA will keep the RTX 30 series alive alongside the RTX 40 series, allowing for an even greater supply. The reason for this is that both series are produced at distinct foundries, allowing NVIDIA to virtually double their average wafer allocation.

The overall global trend for GPU prices is downwards, therefore it seems sensible to hold off for the time being. As mining demand fades and the accumulated influx of second-hand GPUs from mines satisfies most of the GPU demand out there, it’s completely feasible that prices will return to MSRPs in a few months. This year, Intel will also unveil its Alchemist GPU portfolio, which will boost GPU supply even more.

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Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

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