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JEMC said:

One of Dell's higher ups spilled the beans a couple weeks ago talking about 1000W chips and how they'd be able to cool them without using watercooling:

https://www.tomshardware.com/tech-industry/artificial-intelligence/nvidias-b100-and-b200-processors-could-draw-an-astounding-1000-watts-per-gpu-dell-spills-the-beans-in-earnings-call

It definitely could be the case, the PCI-e Hoppers were more power-efficient than the SXM and you could have packed 2 of these together for ~60% of Blackwell's performance at 700W. So it makes sense a somewhat improved node/architecture could deliver 100% at 1000W or even less.

(I don't think FP4 will be adopted for inference the way FP8 was, BTW, the precision is way too low)