The guys over at The Tech Report have put together an interesting article about understanding the next generation of graphics chips

"Real-time 3D graphics has come a long, long way since it first arrived on microcomputers less than 20 years ago. We've moved from simple wireframes to texture-mapped polygons with per-vertex lighting—all handled in software. Then, in 1996, custom graphics chips hit the scene in the form of Rendition's Verite and 3dfx's Voodoo Graphics. These cards, especially the Voodoo, were an instant success among gamers, who naturally appreciated the additional graphics power afforded by dedicated hardware. The Voodoo's success in the PC market caught even 3dfx off guard; the chip was originally intended for video arcade machines, not consumer PCs."

Check out the entire article here