AMD today announced the world’s fastest graphics card, the ATI Radeon HD 4870 X2.
The HD 4870 X2 is delivering 2.4 teraFLOPS of processing power. Also announced today is the ATI Radeon HD 4850 X2 graphics card, delivering good performance at a compelling price point.

The ATI Radeon HD 4800 X2 series are combining two ATI Radeon HD 4800 series GPUs with a more advanced cross-GPU connection based on the PCIe 2.0 standard, plus 2GB of memory, which is the most in any currently available consumer graphics card.
The ATI Radeon HD 4800 X2 series provides support for ATI CrossFireX, enabling incredibly fast gaming PCs with unmatched performance at ultra-high settings. Enthusiast gamers can now run the most demanding games smoothly at the highest settings, enabling modes that were not playable before. With the efficient use of all four GPUs in a dual ATI Radeon HD 4870 X2 CrossFireX configuration, gamers will enjoy more than 3 times the performance of a single ATI Radeon HD 4870 card in many games.

Based on an advanced 55nm design and leading DirectX 10.1 support, the ATI Radeon HD 4800 X2 series delivers engineering elegance and the industry’s most compelling feature set. The ATI Radeon HD 4870 X2 is immediately available from e-tailers worldwide priced at USD $549 SRP, while the ATI Radeon HD 4850 X2 is scheduled to be available in September at an estimated price of USD $399.

This new ATI video card puts the ball back in NVDIA's court. Let's see what they hit back with. This is yet another case for our NVIDIA versus ATI Babes Cat Fight.
Via this AMD press-release. Find the newest Graphics Cards on NewEgg.