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After some searching around, I'm not sure that is actually a genuine concept.
http://videocardz.com/52302/amd-radeon-r9-390x-cooling-pictured
It ties into the Asetek OEM contract win too.
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After some searching around, I'm not sure that is actually a genuine concept.

Even if lets say the deal was agreed in July, they will need more than a few months to test out and refine the AIO design.
Thursday, August 14, 2014 — Asetek® today announced that it has secured a design win with an undisclosed OEM customer for a graphics liquid cooling product. The ambitious project is forecasted by the customer to result in 2 – 4 million dollars of revenue. Shipping is scheduled to begin in the first half of 2015. The design win continues Asetek’s success in the growing graphics liquid cooling market.
Guys don't get your hopes up.
In relation to performance or release?
Like I've been saying for release I expect Q1 2015. Performance? Well that's anyone's guess. I've got my 980 hopefully arriving today to tinker with until it comes out.
I know what it is
its a blue n red pill to help you get over the 980/970 release sickness![]()

Clearly a cut out for AIO cooling pipes.
![]()

I imagine coolers go through a bit more testing than that especially an AIO.

Guys don't get your hopes up.

You can if you want cause there is always maxwell if it disappoints![]()