it depends on the scene. ray tracing is more task parallel than data parallel. rather than running the same function over x pixels a ray tracer would do x functions per pixel. for a complex scene with many secondary rays you could send out 128*128 shadow rays or ~16,000 total shadow ray that could all be run on independent cores. you can do the same thing for subsurface scattering, global illumination, refractions, reflections and supersampling. this is about 300,000 threads per pixel or so. the blending of samples will not be perfectly parallel. this is about 700 billion threads per frame.
this is why ray tracing is considered the holy grail of graphics but the enemy of real time rendering.