Checked with the team, this will be possible! however it will require a BIOS update for Framework Laptop 16 with 7040 series processors.
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@Destroya if the new Nvidia GM has a USB-C port (like the 7700S) but can now CHARGE the laptop:
Q1: Does this mean the port can do BOTH graphics and charging at the same time ?
Q2: If this port can charge, do we need to use a specific USB-C cable? Can it do the full 240 charge? or is it a 60 or 90 charge?
Gosh this would be awesome if it can charge 240 AND directly connect to an external monitor at the same time!
I don’t think you will get a monitor which can charge your laptop with 240W next years.
Not sure if this answers all of your questions but this is what we have on the specs tab:
Right now, my Framework Laptop 16 with 5070 is connected to my monitor using the rear USB-C port, and it’s being charged at the same time, but not sure how much power it’s drawing or if monitors can provide 240W in the first place 
but can confirm that you can do both at the same time.
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Does that main the 5070 module has its own buck-boost DC-DC converter? If this true it could technically mean you can use two power supplies one for the laptop sans GPU the other for the GPU itself, as long as the EC firmware supports it.