Probably surge damage, honestly. Was your monitor plugged into the UPS or another surge protector, or just into a wall? Do you have any other cables connecting to your machine that aren't on the UPS or a surge protector? Also, a power strip is not equal to a surge protector.
As far as the cause, if you're seeing artifacts on screen past a certain position on the screen, that's the screen or cable, not the GPU. Your display adapter sends fully rendered frames to the display and wouldn't have a specific part of the frame that is corrupted if damaged. Anecdotally speaking, if a GPU has damage, it just won't work.
Also, you may want to check the capacitors on your card and motherboard to make sure they're all still flat and not bulging. If bulging, you took took surge damage and need to redo your cabling to make sure everything is protected.