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At some point next year, AMD is expected to release a new round of graphics cards based on its upcoming Navi GPU architecture. Before that happens, however, AMD may also launch a fresh batch of Radeon RX Vega cards. If so, these are likely to be billed as Vega II, if a new trademark filing for an updated Vega logo is any indication.
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Source: Hot Hardware – AMD Files Trademark For Radeon Vega II Logo As It Preps 7nm GPUs