I doubt that - at least not as the PhysX-Chip. The statements were merely plans how it could be implemented, but on the technical side, the interface between the card and the mainboard still is a bottleneck, especially at higher resolutions with 16xAF & 16XFSAA.
Considering the bandwidth and functionality of this chip, I doubt a shared interface will be the solution.
On the other hand, there may be parts of the former PhysX-Chip being implemented on the GFX-card to support graphics further.
Basically the same thing with the step from pure 2D-Cards that were aided with 3D-Acceleration by the 3DFX-Voodoo-Chipset. All cried out how completely useless it was, a short while later everybody implemented the functionality on their own chip in one way or the other.
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