It is now becoming increasingly clear that Navi 31 will indeed use a multi-chip module (MCM) design while parts from Navi 33 and below will continue to be monolithic. We have also seen some information about Nvidia's upcoming Lovelace AD102 trickle down of late. Now, we are getting to know what the memory configurations of these cards would be like.
This information comes via known leaker @greymon55 on Twitter. According to @greymon55, the Navi 31-based RX 7900 XT (?) will use a 5 nm + 6 nm MCM layout with 256-bit GDDR6 memory while RX 7800 XT (?) Navi 32 will also feature the same MCM process but with 192-bit GDDR6 VRAM. Navi 33 (RX 7700 XT ?) will be a 6 nm part with 128-bit GDDR6. AMD could once again be leveraging Infinity Cache to offset any perceived performance loss by not using a higher, more power-hungry memory interface.
Navi 33 is slated to offer more performance than the current RX 6900 XT, possibly in the alleged US$450 price bracket, given the expected improvements to core clocks and shift to a 6 nm process. If true, it is indeed a feat if Navi 31 is able to offer RTX 3090/RX 6900 XT-level gains with a 128-bit bus.
On the Nvidia Lovelace front, @greymon55 indicates GPUs from AD102 to possibly AD106. AD102 will be a 5 nm part with a 384-bit GDDR6X video memory. We have previously known that Nvidia could be targeting a greater than 2.2 GHz clock with the RTX 4090 (?). Given that Nvidia cards can actually achieve much higher boosts than advertised, we should be seeing some excellent clock speeds with the Lovelace cards. We still do not know what the actual memory capacity would be on the flagship RTX 4090, but a 384-bit bus would suggest at least 24 GB GDDR6X VRAM.
With Intel all set to join the fray next year with Xe-HPG DG2 Alchemist, the GPU market will be an interesting thing to watch in 2022.
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