Anybody have an update on this issue?

FYI, Manuel confirmed it was not a hardware issue on the Nvidia forums.  Some were continuing to speculate on the reason for the issue despite the information that a driver fix would correct the issue.
 
https://forums.geforce.com/default/topic/938975/geforce-1000-series/geforce-gtx-1080-founder-issue-fan-issue-updated-6-2-16-/post/4896556/#4896556

Shockjockey

mpoffo
FYI, Manuel confirmed it was not a hardware issue on the Nvidia forums.  Some were continuing to speculate on the reason for the issue despite the information that a driver fix would correct the issue.
 
https://forums.geforce.com/default/topic/938975/geforce-1000-series/geforce-gtx-1080-founder-issue-fan-issue-updated-6-2-16-/post/4896556/#4896556

Thanks. This is great news! Now I will not be afraid to order.

Saying that an issue "will be fixed in the next driver" isn't really the same thing as saying that it is fixed.  I would wait until the fix actually hits the streets and users confirm that it is fixed.  Isn't Manuel the same guy who said for months that they were working on the monitor EDID corruption driver fix which we still haven't seen?

    I had the same issues on one of my Zotac 980ti amp extremes. Engineers on OCN told me a driver/firmware fix would stop my fans from revving up . It did not. I had to rma the card. Sure enough the replacement gpu did not have the fan problem. Point being ... I wouldn't depend on a driver "fix" to solve these fan issues. If you have the problem now .. its best to put in a RMA and not wait. Can you imagine the wait times on people trying to return cards if the next driver update does nothing for them ? Yikes. 
- I just dropped 1270.00 on new gpu's for me and my 16 yr old son. I'm going to be thoroughly pissed at EVGA if these cards have the same fan issues.
http://oi68.tinypic.com/2up73ue.jpg
 

glenn37216
    I had the same issues on one of my Zotac 980ti amp extremes. Engineers on OCN told me a driver/firmware fix would stop my fans from revving up . It did not. I had to rma the card. Sure enough the replacement gpu did not have the fan problem. Point being ... I wouldn't depend on a driver "fix" to solve these fan issues. If you have the problem now .. its best to put in a RMA and not wait. Can you imagine the wait times on people trying to return cards if the next driver update does nothing for them ? Yikes. 
- I just dropped 1270.00 on new gpu's for me and my 16 yr old son. I'm going to be thoroughly pissed at EVGA if these cards have the same fan issues.
http://oi68.tinypic.com/2up73ue.jpg
 

I can't blame EVGA for this.  If it is an issue like you had...that's on Nvidia.  The Founder's Edition cards and even the EVGA 1080 ACX 3.0 and regular version 1080 are all built on the same PCB with all the same electronics.  Only differences will be the enclosures.  So, if there is a hardware issue with the first release of the 1080, and the EVGA version will most likely suffer the same consequence, unless EVGA has found a root of the issue.  I stated in my other answer that it seems odd that a hotfix wouldn't be released and owners have to wait for the next release.  There are people on the GeForce.com board returning their cards for refunds, already.  My only point is that if the fix is software...release it and put people's minds at ease.  And you are right...if the driver fails...Nvidia has another marketing issue to address.  The only EVGA cards that "may not" have this issue is the FTW, since it is built on a custom PCB.  Who knows!

Looks like all should be good now with the Fan Revving Issue.
 
From Nvidia Driver Release Notes:
 
Changes and Fixed Issues in Version 368.39
The following sections list the important changes and the most common issues resolved in this version. This list is only a subset of the total number of changes made in this driver version. The NVIDIA bug number is provided for reference.
 
Windows 10 Fixed Issues
[368.25] GeForce GTX 1080 Founders Edition cards spin fan up and down rapidly. [1771960]
Eliminate stuttering in Total War: WARHAMMER. [1767466]
[368.22] X-Legend Entertainment reports that Laplace fails to launch. [200203264]
[368.22] Stutter occurs during full-screen playback of YouTube videos in Edge browser. [1769515]
[365.10] Metal Gear Solid V: The Phantom Pain launches to a white screen. [1764610]
System hangs during transition from monitor sleep to system sleep. [1757517]
[SLI, 364.72] Tom Clancy's The Division stutters after 20–30 minutes. [1750263]
 
Windows 8.1/Windows 8/Windows 7 Fixed Issues
Eliminate stuttering in Total War: WARHAMMER. [1767466]
WarThunder 3D Vision rating lowered. [1764596]