There is a report out on the web that AMD is working on a new graphics card. Originally, this was thought to be a new flagship GPU, though we were skeptical. In light of our skepticism, it now seems that rather than building a new high-end GPU, AMD is working on a smaller GPU focused at being more power efficient – sort of like Nvidia's first Maxwell graphics cards, the GTX 750 and the GTX 750 Ti. The codename for this specific GPU is "Tonga."
The graphics card is rumored to be the AMD Radeon R9 275X. That's just a rumored name and could be completely meaningless. It wouldn't surprise me if AMD was to make it one of the first 3xx series cards, though given that the card is expected to come out between two and three months from now, it would be a little early to start the Rx 3xx-series of graphics cards. This card is expected to carry just 2 GB of memory, though. Hopefully, there will be custom solutions with more memory.
There are no exact details available yet, and that's not surprising. The rumor is still in its early stages. VideoCardz.com reports that it might be "GCN redesigned once again," meaning that it'll bring along an architectural change. Of course, it is expected that the GPU will still support the AMD's TrueAudio and Mantle technologies.
Do note though, this is all still just a rumor in a very early stage, so do be sure to take it all with a grain of salt. Hopefully, we'll know more at Computex 2014.