At a guess... $80 for the core manufactured, package assembled and shipped to board partners, VRam $20, Cooler $20, PCB components and assembly $50, so $170 BOM cost.
Intel want a profit, board partners want a profit, the supplier wants a profit, the retailer wants a profit, if they each take 10% of the BOM cost that takes it to about $240, I think that's a conservative estimate but no, they are not making a loss, not at £330 they aren't.
With a $3.5 bn initial development cost, a $100 profit (not a conservative estimate) they would have to sell 350 million of them to make their money back, i think they said they made 2 million of them? And they are still in stock.
ATI going bust selling faster GPU's than Nvidia for much less was nothing to do with BOM costs, they still sold them for more than they cost to make, what Nvidia did was simply wait them out, wait long enough for ATI to run out of money to R&D new GPU's.
This is how AMD know "selling better GPU's for half as much as Nvidia" is not a good long term strategy, they bailed ATI out. Jog on Steve Walton, you're an aussie idiot.