AMD has just released their RDNA2 based cards, also known as Big Navi.
It has been many years since AMD has produced a Graphics card that has been able to complete with let alone outperform nVidia at similar price points.
It appears that with the Radeon RX 6000 series AMD has finally re-entered the competitive field. This builds on the RX 5700 XT and the first iteration of the RDNA architecture.
This now means that AMD is competitive in both the CPU and GPU areas.
RDNA2 based graphics architecture is what is included in both the PlayStation 5 and Xbox Series S/X