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CGI-Quality said:

Current high-end GPUs have enough power to render it (both the 690 and 7970 can handle the tech), just not in a full setting/world without complete sacrifices.

The current high-end GPUs have no power to make games using ray-tracing insted rasterization... Ray-tracing today can be used only in prerendered schenes.

nVidia didn't expect real-time ray-tracing for games in GPUs before 2015... and that's before the actual generation of next-GPUs are delayed to the next year.