Does a Pod GPU MAX memory usage also capped by GPU Milli specified in the GPU-v2023 Trace?

A pod currently can specify:

1. GPU count
2. GPU Milli
3. GPU Card-model

Does GPU Milli refers to the % of memory used for that specific card-model ?
If so, how does the following translate to memory required ?

name,cpu_milli,memory_mib,num_gpu,gpu_milli,gpu_spec
iopenb-pod-0021,8000,30517,1,440,G2|P100|T4|V100M16|V100M32

For the case of P100(16GB) :
440/1000*16 = 7.04GB?

For the case of V100M32(32GB):
44/1000*32 = 14.08GB?