ATI has released a new real time 3D tech-demo focused on character animation to show the power of Radeon HD 4000 series in this field of computer animation. The aim of this demo is the simulation and rendering of massive crowds on the GPU. The rendering is done via Direct3D 10.1 and animation is done entirely on the GPU with a complex 3200-instruction shader.
You can download the demo directly HERE (324Mb).
The demo comes with one 50-page paper that explains the demo and shows some code.