NVIDIA's GTX 1080 is no longer the king of the GPU mountain. That honour is now the company's newest graphics card, the GTX 1080 Ti.

Announced at a GDC press conference on Wednesday in San Francisco, the $700 1080 Ti is 35 percent more powerful than the GTX 1080, says NVIDIA CEO Jen-Hsun Huang.

It comes with 11GB of GDDR5X memory, and with 11GB of frame buffering it is designed for 4K gaming. In fact, Huang reassured his audience that they could play Watch Dogs 2 in 5K -- that's 5,120×2,880 -- using the GPU.

Most impressively, the company claims the 1080 Ti is more powerful than the Titan X, a $1,200 GPU developed for AI and deep learning. Like the Titan X, the 1080 Ti use 3,584 of NVIDIA's CUDA cores. The GTX 1080, by comparison, has 8GB of memory and 2,560 CUDA cores.

Huang also announced at the conference that the 1080 was getting a price drop down to $500.

The GTX 1080 Ti will be available from March 10 for $700. No international pricing has been announced, but that converts to AU$915 and £565.