What does the X4 mean in an PCIe Gen X4 NVME drive?

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No; It does not You only have a single PCIe x2 slot So only one of your devices would run at that speed However, most if not all

nvme slot vs m2 2 x16 PCIe x16 card, which is used for high-performance PCIe NVMe SSDs, are inserted into PCIe slots, which may or may not be installed

nvme slot types Yes, NVMe uses the PCIe bus, but I'm talking about the slotinterface