GPU systems are increasingly powering modern datacenters at scale. Despite being highly performant, GPU systems can exhibit performance variation at the node and cluster levels. Such performance variation can significantly impact both high-performance computing and artificial intelligence workloads, such as cutting-edge large language models (LLMs). In this work, we analyze the performance of a single-node multi-GPU system running LLM training, and observe that the kernel-level performance variation is highly correlated with concurrent computation and communication (C3), a technique to overlap computation and communication across GPUs for performance gains. We then take a further step to reason that thermally induced straggling coupled with C3 impacts performance variation, which we coin the Lit Silicon effect. More specifically, Lit Silicon describes that in a multi-GPU node, thermal imbalance across GPUs can introduce node-level straggler GPUs (hotter and slower), which in turn slow down the leader GPUs (cooler and faster). Lit Silicon can lead to node-level performance variation and inefficiency, potentially impacting the entire datacenter. We propose analytical performance and power models for Lit Silicon, to understand the potential system-level gains. We further design simple detection and mitigation techniques to effectively address the Lit Silicon problem, and evaluate three different power management solutions, including (1) power optimization under GPU thermal design power, (2) performance optimization under node-level GPU power capping, and (3) performance optimization under node-level CPU power sloshing. We conduct experiments on two workloads on two AMD InstinctTM MI300X GPU systems under two LLM training frameworks, and observe up to 6% performance and 4% power improvements, potentially saving several tens of millions of dollars in electricity costs in datacenters.