In high-speed networks, packet-based network traffic monitoring and analysis applications require a large amount of computing power and high I/O throughputs. These applications face extreme performance and scalability challenges. GPUs have been widely applied to accelerate general-purpose scientific and engineering computing. The GPU architecture fits well with the features of packet-based network monitoring and analysis applications. Fermilab network research group's prototype GPU-based network traffic monitoring and analysis system consists of two major components: a lossless packet capture engine that supports 10/40GE commodity NICs, using our WireCAP technology; and a complete set of GPU libraries for network traffic analysis. Our GPU libraries now supports per-packet-based deep inspection analysis. It is anticipated to support per-flow-based deep inspection analysis very shortly.