CITIC Securities says AI agents will significantly lift CPU demand and prompt a
evaluation of CPUs. In an upside scenario it forecasts a CPU-to-GPU ratio as
high as 8:1 and a long-term addressable market of about USD 2 trillion,
exceeding the current GPU market. 2026 could be the year Chinese-made CPUs
accelerate commercial penetration, with domestic commercial share rising from
single digits to double digits. The report advises monitoring domestic CPU and
GPU leaders and key upstream/critical-node companies in the industry chain.
