There is a common misconception that Sapphire make AMD's reference cards.
This is false.
Scott Herkelman, CVP & GM AMD Radeon, was asked in an episode of PCWorld's Full Nerd if Sapphire makes AMD's reference GPUs and his answer was NO. (Thanks T1beriu for finding this)
So who makes AMD's reference cards?
It's actually PC Partner Group, the company that sells video cards under the ZOTAC brand.
If you look at engineering samples of AMD's cards from the last 10 years or so, you'll see that they have stickers labeling them as products of "PC Partner Ltd."
PC Partner is, in fact, the largest contract manufacturer of AMD cards." class="reddit-press-link" target="_blank" rel="noopener">
There is another misconception that PC Partner owns Sapphire.
This is also false.
As mentioned by Sapphire's own CEO, PC Partner is contracted to make Sapphire cards.
PC Partner manufactures products for a wide range of companies such as Dell, AMD, Acer, Samsung, Sapphire, LG, Microsoft." class="reddit-press-link" target="_blank" rel="noopener">
Saying that PC Partner Group owns Sapphire would be like saying that Foxconn owns TUL Corporation (the company that sell video cards under the PowerColor brand). Foxconn does contract manufacturing for TUL Corporation, but doesn't own TUL Corporation or the PowerColor brand.