If there is a GK114... I would expect it no later than summer, hopefully sometime Q2.
If a Geforce based GK110(14-15SMX) really is ~70-80% the performance of GTX690, one would expect the cutdown version(12-13SMX(?)) to be under that ~15-20%.
That would leave a window for a product ~25-40% faster than GTX680, which is a bit more than what a respun GK104 could do. GK114 then would be a slight evolution of Gk104, toss in an extra SMX or two and clocks might see a slight bump.
IMO- Those performance estimates, based off of GK110 vs GTX690, seems a bit high though, on the other hand, Nvidia has been relatively flawless with their Kepler execution.
I would expect something more conservative; ~50-60% the performance of GTX690 for GK110 leaving room for a slightly tweaked GK114(architecturally) with no extra units but higher clocks to fill the gap, aka 10-20% over GTX680.
Most mention that for clocks to remain high we will most likely see a disabled SMX in a Geforce card, so 14SMXs for the highend.
Actually, I would be more inclined to think that they have been playing it a bit more careful than that and we will see a GK114 based dual card, though I wouldn't completely rule out a GK204 sometime later this year.





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