Today AMD launched the most powerful processor ever created, found in its next-generation ATI Radeon HD 5800 series graphics cards, the world’s first and only to fully support Microsoft DirectX 11, the new gaming and compute standard shipping shortly with Microsoft Windows 7 operating system.

Boasting up to 2.72 TeraFLOPS of compute power, the ATI Radeon HD 5800 series effectively doubles the value you can expect of your graphics purchases, delivering twice the performance-per-dollar of previous generations of graphics products.
AMD will initially release two cards: the ATI Radeon HD 5870 and the ATI Radeon HD 5850, each with 1GB GDDR5 memory.

With the ATI Radeon HD 5800 series of graphics cards, PC users can expand their computing experience with ATI Eyefinity multi-display technology, accelerate their computing experience with ATI Stream technology, and dominate the competition with superior gaming performance and full support of Microsoft DirectX 11.

The ATI Radeon HD 5800 series of graphics cards is supported by a dozen add-in-board companies, including ASUS, Club 3D, Diamond Multimedia, Force3D, GIGABYTE, HIS (Hightech Information Systems), MSI, Multimedia, PowerColor, SAPPHIRE Technology, VisionTek and XFX. See also these new ATI Radeon HD 5870 Reviews.

I assume NVIDIA will be announcing their Windows 7 DirectX 11 cards soon too.