GT/s = gigatranfers per second.
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Also the speed is per lane, eg an x8 slot / port / device is called that because it has 8 lanes, which all transfer in parallel.
So... That's about 16 terabytes per second per lane. AKA more bandwidth than I can imagine any use for, though I'm sure we will find ways to take advantage...
(Seriously, that's enough to move 16 largish laptop drives every second, on a single lane.)
Actually at that point, a pcie7 nvme would be faster than ddr6
https://www.pcworld.com/article/2237799/ddr6-ram-what-you-sh...
That said, per-pin, 16GB/s seems to be the same ballpark as contemporary (to pcie7) main or graphics memory..... Like, actually more if I'm reading this right?
https://www.anandtech.com/show/21287/jedec-publishes-gddr7-s...