Yep, you are correct. Thanks to informal and Macadamia for this SOURCE.
Overclocking: Whatever Happened to Headroom?
Power consumption of an IC is a function of the number of switching events and the square of the supply voltage, at least in theory. If leakage currents are taken into account, we found that the third power of the voltage provides a better fit for any of the CPUs we have measured over the years. What this amounts to is that a 10% increase in voltage will result in a 21% increase in power consumption and thermal dissipation using the classic square function and a 33% increase using our empirically derived function. If the operating frequency is increased by 30% (knowing that a lot of the Nehalem cores will do run up to 4.1 GHz) using 10% overvolting, the thermal dissipation will reach 177% of the stock value. That is, even using the official TDP of 130W, we are looking at roughly 230W, which approximates a power density of some 100W/cm2. This number is not out of the world but bear in mind that the basis for the calculation was not the maximum power consumption but what a typical user may experience using commercial software.






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