There is a harsh competition between AMD and Nvidia in DirectX 11 supremacy, and AMD has already decided an edge in price/performance ratios. Nvidia is aiming to rectify that with the GTX 465.

Just like the GTX 470 and GTX 480, the GTX 465 is also using the same Fermi chip, and the key functional units are disabled. This can be by choice, or because of the yield issues, considering the large size of Nvidia’s latest progeny. Whatever the reason is, it allows Nvidia to launch a card to the market that is priced less than AMD’s great card, the Radeon HD 5850. We have seen the PNY card priced at around $280, as opposed to the average price of the HD 5850 that is around $290 to $300.

So what are the advantages of the GTX 465 compared to the GTX 475 and GTX 480? The GTX 465 has fewer shader cores as we can see in the chart that brings lower performance in applications with heavy shader needs. The performance of game will also likely to be affected by the smaller number of ROPs in the end of the output stage. GTX 465 also has fewer texture units, but that is actually well-balanced by the ROPs and the smaller memory interface.
How does the GTX 465 perform in reality? To see how it performs, we have compared the GTX 465 to a standard Radeon HD 5850. Both of them are using the latest drivers at the time we did the comparison: version 257.15 for Nvidia and Catalyst 10.4 for AMD. The XFX card is priced at around $295, while the PNY GTX 465 is priced at $280.
The result of the comparison is a wash. Both cards are winning in some parts, and losing in some other parts. However, it is worth noting that the Radeon HD 5850 wins mostly by large margins, while the GTX 465 wins mostly just by little margins.

Some of this is caused by the drivers. The drivers of Fermi are still quite immature, and each driver from Nvidia has achieved great increase in performance. On the GTX 465, the power usage at full throttle was still high, although the gap is narrowing. The GTX 465 will not use too many power.

In the end, we can conclude that the GTX 465 is actually a reduced version of the GTX 480. Nvidia has brought the price down to an affordable level, but we are expecting the next set of GPUs from Nvidia.

The point is that people who are buying this midrange card because of brand loyalty will be satisfied either way.

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