Your right, those titan numbers seem off. I don't remember seeing a single review where titan consumed the same power as a 290x, let alone instances where it consumes more.
I remember pendent1 saying something about this possibly a1 stepping though and if it does use the same chip with more volts, its a lazy move.
And it will be just like the 7970 ghz launch. Where the general consensus that its a so so product, has the performance, but just adding voltage and expecting the cooler to pick up the rest of the slack is lazy. Your better off buying its not overclocked siblings and overclocking the card yourself and not paying the overclocking fee.
But unfortunately, people don't have the choice like the 7970 ghz. gtx 780 has such a big compromises when it so disabled and titan is likely being discontinued and is super expensive.
I would not get a gtx 780 ti until I get b1 or b2 stepping.
If the extra overclocking headroom is just because Nvidia gave us more voltage than the gtx titan. In addition if they are using a1 stepping, they should have been able to give this product to us months ago. The same time as the gtx 780 launch.
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