https://www.techpowerup.com/272865/nvidia-geforce-rtx-3070-launch-postponed-to-october-29th
 
When NVIDIA introduced its Ampere consumer graphics cards, they launched three models - the GeForce RTX 3070, RTX 3080, and RTX 3090 GPUs. Both the RTX 3080 and RTX 3090 have seen the light of the day as they are now available for purchase, however, one card has remained. The GeForce RTX 3070 launch was originally planned for October 15th launch, but it has officially been postponed by NVIDIA. According to the company, the reason behind this sort of delay in the launch is the high demand expected. Production of the cards is ramping up quickly and the company is quickly stocking up the cards. Likely, NVIDIA AIBs are taking their time to stock up on cards, as the mid-range is usually in very high demand.

As a reminder, the GeForce RTX 3070 graphics card features 5888 CUDA cores running at a base frequency of 1.5 GHz and boost frequency of 1.73 GHz. Unlike the higher-end Ampere cards, the RTX 3070 uses older GDDR6 memory on a 256-bit bus with a bandwidth of 448 GB/s. The GPU features a TDP of 220 W and will be offered in a range of variants by AIBs. You will be able to purchase the GPU on October 29th for the price of $499.
 
In my personal opinion NVIDIA is doing the right thing in order to try and have more RTX 3070 cards in stock as to try and mitigate the RTX 3080/RTX 3090 stock fiasco. However I believe that demand for the RTX 3070 will be much higher than NVIDIA anticipates. 

Seriously, like it matters ?  They wouldn't even be available anyways.....
 
We'll be lucky to even see any 3080's or 3090's in any quantity by then either

Postponed to 1 day after AMD's Big Navi announcement? Interesting.

ty_ger07
Postponed to 1 day after AMD's Big Navi announcement? Interesting.

Yup. I was just coming here to say this. They are looking to rain on AMDs parade with a direct competitor at, what they hope, a similar price point.

castrator86

ty_ger07
Postponed to 1 day after AMD's Big Navi announcement? Interesting.

Yup. I was just coming here to say this. They are looking to rain on AMDs parade with a direct competitor at, what they hope, a similar price point.

Will there still be hype for the 3070s with all the issues they've had

The 3070 is a slight improvement over the 2080 Ti, dependent on the gaming title as will AMD's supposed flagship.
 

I agree that there should be more cards to try to avoid the launch fiasco that was the 3080/3090, but I really doubt 2 weeks of production will make a meaningful impact when compared to the demand. To me this feels more like a way to steal all the hype away from AMD.

Its probably to get more cards and prevent amd from using 3070 benchmarks in their official marketing claims