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Late 2013 and early 2014 has been and will be a very exciting time for graphics cards.
AMD released the R9 270, 280, 290, and 290x recently.
nVidia recently released and announced the 780Ti, a powerful upgrade to the existing GTX 780.
You can read about any of these cards on a variety of websites including http://linustechtips.com/main/, http://www.anandtech.com, and a variety of other websites.
The most recently released card comes from ATi Technologies, who released their ATI Radeon HD 5700 Series graphics cards (specifically the 5750 and the 5770) on October 22, 2009. These DirectX 11 based cards are the latest and greatest, clocked at 700MHz and 850 MHz, respectively. The 5770 HD is the fastest single consumer chip, boasting a performance over 1 Gigaflops. nVidia is not set to release their newest chips until October 30, 2009.
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