It's no doubt that AMD's new RX 9070 XT is one of the best graphics cards you can buy -- assuming you can actually buy it. Like all graphics cards released in 2025, AMD's latest RDNA 4 offerings sold out within minutes of launching. AMD has promised that more inventory is on the way, but there are worrying signs that the attractive list prices for the RX 9070 XT and RX 9070 won't hold once the cards come back in stock.

AMD might not be able to enforce list price

You might want to readjust your expectations for the RX 9070 XT

There was a frenzy on release day for the RX 9070 XT and RX 9070, with online and brick and mortar retailers flinging boxes to eager gamers. As usual, there were a handful of models at list price, along with more expensive versions with additional features or a factory overclock. AMD's Frank Azor took to X to reassure anyone not lucky enough to score a card that AMD would replenish stock, and that the MSRP would "continue to be encouraged."

AMD didn't release a reference design for the RX 9070 XT or RX 9070, leaving the pricing up to board partners and retailers while AMD encouraged list price. That's led to few models being listed at MSRP, even if they're sold out. For instance, Newegg only has a single RX 9070 XT listed at MSRP. Best Buy has two models each for the RX 9070 XT and RX 9070. And Micro Center has three each. They're all sold out, but the number of models at MSRP pale in comparison to something like the RTX 5070. Newegg has seven RTX 5070 models listed at MSRP.

What's more concerning is that several models have increased in price, despite being sold out. Sean Hollister at The Verge found that multiple models at multiple retailers around the world increased prices for the RX 9070 XT and RX 9070 by upwards of $130. Most of these models were already listed above MSRP, as well. You'll find some models of the RX 9070 XT listed for as much as $800, which is a rather large 33% increase over list price.

Why is this happening? Hardware Unboxed has a theory, and it has to do with rebates. The YouTube channel pointed out that AMD uses a rebate system with retailers and board partners. They purchase cards at an expected list price, and should the final list price be lower, AMD will return that money to retailers and board partners through a rebate. Hardware Unboxed suggests that pricing was much higher for the RX 9070 XT and RX 9070 initially, and since launch, it alleges that AMD has been selective about returning rebates.

According to retailers HardwareUnboxed spoke with, the rebate is being applied to MSRP models but not more premium versions, which has led to the large price disparity for RDNA 4 cards. In addition, the YouTube channel suggests the rebate hasn't been consistent, pointing out that Micro Center in the U.S. seems to have a more generous rebate arrangement while OCUK was capped at just a few hundred MSRP units eligible for rebate. Prior to launch, one retailer even said that MSRP pricing would only apply to the first shipment of RDNA 4 cards.

It's impossible to say where RDNA 4 prices will end up when the cards come back in stock, as it seems the price will vary based on model, retailer, and what region of the world you live in. For me, I have a single RX 9070 XT in stock at my local Micro Center, but that's not true for locations around the country. Hopefully the situation will get ironed out in short order.