AMD’s RDNA 3 flagship doesn’t seem too competitive in ray-traced workloads. Numbers compiled from Team Red’s official presentation (by PCGH) indicate that the Radeon RX 7900 XTX falls short of the GeForce RTX 3090 Ti in every RT-enabled game. The newly released GeForce RTX 4090 is over 2x faster on average in Cyberpunk 2077, at the Ultra Quality present with FSR 1.0 enabled:
We see similar deltas in every ray-traced title. For example, in Dying Light 2, the RTX 4090 is 85% faster than the RX 7900 XTX at the Max Ray tracing preset. The latter levels with the RTX 3090 Ti, beating the RX 6950 XT by ~90%.
The closest the two flagships get is in Metro Exodus Enhanced Edition, where the RTX 4090 is just under 70% faster than the RX 7900 XTX. In this case, the latter beats the RX 6950 XT by 50% in this taxing game.
These figures were extrapolated from AMD’s 3rd November presentation and are likely a bit higher than the real-world numbers, so be sure to take them with a grain of salt.