Both reciprocal (inverse) square root SSE SIMD instructions were available in Intel Pentium III, released in 1999.
Unfortunately, it doesn't tend to get used automatically in languages like C. The result of rsqrtss is slightly different from 1/sqrtf(x) as two seperate operations, so it cannot be applied as an optimization.
If the rules for floating point optimization are loosened by passing -ffast-math to GCC, the compiler will use it. That being said, -ffast-math is a shotgun that affects a lot of things. If you need signed zeros, Infs, NaNs or denormals that flag may break your program.
Interesting point. GCC and MSVC both seem to have (incompatible) intrinsic functions, for what that's worth.
https://gcc.gnu.org/onlinedocs/gcc-4.8.5/gcc/X86-Built-in-Fu...
https://docs.microsoft.com/en-us/previous-versions/visualstu...
https://software.intel.com/en-us/articles/reference-implemen...
My recollection is that it's accurate to 11.5 bits, so after one refinement step you have nearly full precision (an error bound of a couple ULP). Check Intel's docs for more details.