Epoch AI: Compute built over the next two years could run hundreds of millions of AI agents

Epoch AI estimates that AI compute produced over the next two years could support tens to hundreds of millions of concurrent agents running today's most capable models, or billions running cheaper ones. Using projected HBM shipments from 2025 through 2027, the analysis counts GB300-equivalent GPUs and finds top-tier agents running nonstop could supply the weekly hours of roughly 140 million to 700 million full-time employees, while DeepSeek V4 Pro serving benchmarks imply about 1.9 billion concurrent agents. The report notes the key uncertainty is whether demand grows fast enough to justify the buildout or leaves a glut of agents.