My GPU is the Nvidia GeForce 9300 GE.
Its specs are as follows:
Dedicated video memory: 256MB DDR2
Total available graphics memory: 1535 MB
CUDA Cores: 8
Core Clock: 540 MHz
Shader Clock: 1300 MHz
Memory Data Rate: 1000 MHz
Memory interface: 64-bit
PCI Express 2.0 x16
My PC is Windows 8, 32-bit Intel Core 2 Quad Q8300 2.5GHz CPU, 3GB RAM.
My editing software runs fine but it's minimum system requirement for the GPU memory is 512MB. My GPU has 256MB memory.
Also, it requires CUDA-enabled GPU and driver 270.xx or later. GeForce GPUs: GeForce GTX 4xx Series or higher (or GeForce GT 2xx Series or higher with driver 285.62 or later)
Would it be worth the money to upgrade my GPU and buy a GPU under $50?
I also want to be able to take advantage of GPU accelerated rendering so I can render my project faster.
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Thread: Upgrade GPU? Worth it?
Yes get a new one, your interface is only 64 bit. At the minimum get a 128 bit with 512MB DDR3 memory, Newegg.com is great for comparing features.
EDIT: is there a reason you chose 32 bit over Windows 8 64 bit?
Will there be a noticeable difference in performance? I don't want to spend $30-$50 and not notice any performance increase.
Will getting a new GPU require more power? Will it generate more heat?
Here's a great value for an older nVidia card:
Should I get a GPU with 1GB or 512MB GPU memory?
How many CUDA cores?
Will it generate more heat in my PC?