$AMD

Mizuho: “Token generation will grow by 13x YoY.” This means $AMD will literally print money as CPU demand will skyrocket. Mizuho’s prediction about token demand relies on the assumption of 100 million agentic AI users. This is too conservative. Almost all AI users are already agentic AI users. Even when you are using the models through AI labs’ own platforms, almost all queries now go through agentic loops as even the base models come with several tools that they run in a loop to generate an answer. Thus, almost all of 3.8 million monthly LLM users are already agentic AI users. So, token demand will be many multiples higher than what Mizuho predicts. This will skyrocket CPU demand since agentic tasks currently run at a GPU-to-CPU ratio of 1:2 and it’s going toward 1:1 as agentic lo