The bandwidth thesis, measured three times
An 8B model in 16-bit is about 16 GB of weights, and every token reads all of it. The bandwidth floor is roughly 3 ms per token on the MI300X (~5.3 TB/s), 4 ms on the GH200 (~4 TB/s) and 8 ms on the H100 PCIe (~2.0 TB/s). Measured single-caller decode: 4.9, 5.4 and 9.4 ms. Same order, each close to its floor — the memory-bound behaviour the earlier profiling found at 15.5 ms per token on a much smaller GPU.