bradum :
Where are you getting this intel from?
Various sources, but especially Zauba manifests. And some logical deduction (HBM2 has only been in production for about a month), and large dies on 16FF+ or 14nm LPP are new territory (I don't think either process has ever mass-produced even a 200mm2 die). With ~0.4defects/mm2, yields aren't going to be that great for a 300mm2+ GPU. In addition, 16FF+ is only about twice as dense as 28nm, therefore a 300mm2 16FF+ die, which is the rumor for the Pascal parts seen in testing, is about the same as a 600mm2 die, so transistor counts can't be as high as nVidia or AMD have both claimed their flagship GPUs will possess.
Still, with both companies introducing either revised or nearly new architectures, we should see a healthy per-transistor performance increase. But beyond nVidia reintroducing dual-precision compute capabilities it stripped from Maxwell, I don't expect to see the full capabilities of this generation revealed until fall, maybe even winter.
I could always be wrong
bradum :
If it is not the Titan that is the first card to debut, it will be the GTX 1080 (or whatever it may be called) that is the first card to come out... Something I don't consider a "middle of the road" card. The x80 card has always come before the x60 and x50 cards.
The first cards out may well beat the current top cards, but I doubt very seriously that we will see the top-performing cards from the start. With a mature process, that might be more likely. As this is such a giant leap in process technology and performance, it really isn't necessary for either company to take unnecessary risks. It could be that both companies have made such huge architectural improvements that they don't need the extra die space, but their claims of 18B+ transistors won't hold up in the rumored die space.
AMD's side is apparently further along towards release than nVidia, as we've seen many specific products being tested (via their code-names). Yet, we haven't seen a single shipping manifest regarding an HBM-compatible die. Everything has had the GDDR5 controller specifically stated in the manifest. Though, there's also an interesting fact that the manifests report the country of origin as Canada, which means these cards came out of AMD's graphics GQ (formerly ATi's HQ). That could mean that AMD is intentionally keeping their top-end SKUs under wraps by testing them in-house, or allowing it to be done in Taiwan or wherever... or that HBM2 is holding up the show (which would also impact nVidia).