Yes but not in most cases. This particular one has pretty bad drivers right now. It does DirectCompute and 3DMark11 and OpenCL already better than the 750M and has a much higher memory bandwidth so its clearly a more powerful card. I mean, just look at that floating point performance. So its clearly a driver problem or an overhead problem.
Also, the R9 290x improved more than the NVIDIA card in terms of PERCENTAGE. The NVIDIA card improved a mear 150%. The AMD on the other hand did 417% better. If they were at even footing to begin with, like THESE TWO, the AMD card would have one. Compare percentage improvement:
The AMD cards are clearly not optimized anywhere close to the NVIDIA and must have a lot of overhead for this much of an improvement,