老黄把CPU机柜搬上台，一场五年混战开始了

TL;DR - Agent workloads are driving renewed demand for server CPUs because orchestration, databases, tool calls, and sandbox execution often run outside GPUs. This is opening a five-year competitive window across x86, Arm, and RISC-V, with ecosystem and system-level integration likely to matter more than instruction set alone.

• Some observed agent workflows place over 80% of their workload on CPUs, potentially shifting CPU-to-GPU ratios from roughly 1:8 toward 1:4 or even 1:1.
• Mass-produced Arm vendors are best positioned for near-term orders, while high-performance RISC-V firms still face substantial software, tooling, and customer-adoption gaps.
• Agent-oriented CPUs may split into high-single-core-performance designs for orchestration and many-core, multithreaded designs for concurrent sandboxes and scheduling.
• Competition will span instruction sets, CPU architecture, software ecosystems, and integration with GPUs, memory, interconnects, operating systems, and schedulers.