[JeGX]

Link: http://www.guru3d.com/article/geforce-gtx-295-single-pcb-review/

Summed up in one line, the big difference in-between the old and new model GTX 295 is that instead of using two GPUs on two PCBs, this new card has the two GPUs placed onto one PCB, lowering part count (BOM) and thus overall production costs.