Earlier quoted context omitted.
MIDI is able to accommodate nearly everything that can be represented through a musical score and instrumental performance. What are you hoping to accomplish with AI-generated waveforms that can't be done with MIDI?
Absolutely not. I can write a score where 16 people each strike a xylophone note at the same instant. I pick xylophone because it's a very sharp transient, and in theory the performers could perform so well that it's literally one attack. If that's not enough, make a XM file with 16 channels and guarantee that they'll all be the same attack, or run a modular synth and some mults and trigger it off the rise time of a…
However, if you want to control attack, reverb, tone, volume, i.e., all the stuff that makes it seem like a real instrument and not a computer-generated tone, then you would need to dedicate some of the 16 channels on each port to each of those different controls. To handle 16 xylophones, you would need a MIDI interface with enough ports to handle the note data plus however many control channels you want to use. (Note that from the interface's perspective, the data incoming from 1 port is just a single channel, so an "8-channel" MIDI interface is actually handling 128 channels of MIDI data.)