AMD looking to beat the performance of Nvidia's $3000 graphics card at half the price

Just weeks after Nvidia announced its $3000 GTX Titan Z graphics card, competing company AMD is here with a gaming-related announcement of its own. The company today officially announced the AMD Radeon R9 295X2, which the semiconductor outfit calls the "world's fastest" GPU.

The liquid-cooled GPU features 11.5 TFLOPS of compute power, 4K display support, and 8GB of GDDR5 memory. Though it is very powerful, the Radeon R9 295X2 is a bit of a power hog, running at 500 watts. Overall, the card is "built for performance, finished for looks, and loaded with features," AMD says.

The Radeon R9 295X2 launches worldwide April 21. It will sell for $1500 through AMD and its retail partners. Check out the graph below for a full spec breakdown for the GPU.