I don't have first-hand knowledge on HBM GPUs but on the RTX Blackwell 6000 Pro Server, the perf difference between the free up-to-600W and the same GPU capped at 300W is less than 10% on any workload I could (including Tensor Core-heavy ones) throw at it.
That's a very expensive 300W and I wonder what tradeoff made them go for this, and whether capping is here a way to increase reliability. ...
Wonder whether there's any writeup on those additional 300 Watts...