Come to think of it, the standard F40, if such an adjective is appropriate for the Prancing Horse, wasn't exactly in need of a carbon diet.
Sure, if you zoom in on the chassis of the actual car, you'll find steel tubes for the points where the suspension and the engine/gearbox are attached. Nevertheless, these are mixed with Kevlar and carbon composites (the latter are bonded to the steel sections using structural adhesive). Oh, and the body panels are also composites.
Returning to the pixel play that brought us here, this is the work of Yasid Oozeear. We're talking about a digital artist who loves to challenge norms and conventions, which means this Ferrari work only came natural to the aficioando.
Oh, and the pixel wielder did drop a short message along with the render: "How far would you go with an F40? Full carbon body here, with some minor mods,"
Those minor mods include stuff like the removal of the F40's infamous twin-turbo V8, with this having been replaced by a naturally aspirated V12 - would you look at those individual throttle bodies!
As for the aero work on this car, well, it can easily make the small changes that set the LM version of the F40 from the "normal" one appear invisible, for instance.