The chip label represents the minimum performance that the manufacturer will guarantee. Parts are often built with extra circuits, so that if one fails during manufacturing the part can be salvaged. This reduces waste (and saves all the money spent making that “not quite perfect” part). These features are called yield enhancement, because they allow more of the not-perfect parts that get made to be sold.
However, that minimum isn’t the maximum you might be able to get with excellent cooling and careful overclocking. The manufacturer has to allow for only average cooling and enough margin that they don’t have to spend a lot of money on replacement parts.
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