writes "Microsoft formally introduced its DirectX 12 API at the Game Developers Conference yesterday. This next-gen programming interface will extend across multiple platforms, from PCs to consoles to mobile devices. Like AMD's Mantle API, it promises reduced CPU overhead and lower-level access to graphics hardware. But DirectX 12 won't be limited to one vendor's hardware. Intel, AMD, Nvidia, and Qualcomm have all pledged to support the API, which will apparently work on a lot of existing systems. Intel's Haswell CPUs are compatible with DirectX 12, as are multiple generations of existing AMD and Nvidia GPUs. A DirectX 12 update is also coming to the Xbox One. The first games to support the API won't arrive until the holiday season of 2015, though. A preview release is scheduled for this year."
Reader edxwelch adds that OpenGL 4.4 already has functionality similar to the improvements brought by DirectX 12 and Mantle:
"The announcement of DirectX 12 was a big focus of attention at GDC yesterday. The new API will bring Mantle-like low level access to the hardware, reducing the CPU overhead. The OpenGL talk 'Approaching Zero Driver Overhead in OpenGL,' on the other hand, received considerably less media attention. The OpenGL camp maintains that the features to reduce CPU overhead are already present in the current version. They suggest using the extensions such as, multidraw indirect combined with bindless graphics and sparse textures, OpenGL can get the similar 'close to the metal' performance as Mantle and DirectX 12."