I don't know for sure, but I would kind of doubt they are rendering all 130,000 frames in parallel. I would think it is more likely that when a scene is done and ready then that scene would be rendered and completed.

There are a lot of other things going into each scene other than just the rendering (storyboarding, animating, lighting, etc) so it would be silly to wait for the entire film to be done and then render all at once.

Also the 11.5 hours is the average time. Single frames could take up to 80 or 90 hours to render according to that article.

So as for how many they do in parallel that would be very interesting to find out, but I would guess possibly all the frames devoted to a single scene so that would be around 5,000-10,000 frames at once which seems somewhat reasonable considering they have 12,500 cores.

Or alternatively, 90 minutes * 60 seconds * 24 fps = 129, 600 ;)