Pc suddenly shut down? Burnt rubber smell?

[AllAussie]

I was using my Pc today, I'm fairly certain the last thing I was doing was watching YouTube videos. However I had been gaming during the day for a few hours. Anyway, all of a sudden it shut down, everything was out; fans, led's. I thought it might have overheated, so I let it cool for a few hours and tried turning it on. The Psu spun up then died and nothing else happened. I could also feel heat coming off and a burnt rubber smell. My specs are as follows:
Corsair RM750 PSU
Gigabyte/Nvidia gtx 980ti GPU
Two sticks of ram
i7 6700 CPU
ASUS atx Z170-AR motherboard
Also have an optical drive, ssd and hard disk. Psu is water cooled with corsair h80i.

I suspect the problem either lies in the GPU or the PSU, as that seems to be the source of the burning smell.

If anyone has had this before or has any idea what the problem is, any help will be much appreciated

Update: took out GPU system works fine. I will replace the GPU as soon as I can and in the meantime I will also just check the PSU. Wouldn't want it to fry a brand new GPU

 

[Mac070]

Take out the GPU and try to power on the system. Even smell the GPU to see if it smells burnt or like rubber. If the system powers on then you know your GPU is the problem. If not then try to take out the PSU and replace it with another one. If you got one sitting around then great!
If not still take it out and smell it. Smell's burnt then i would RMA it.