Crypto industry leaders continue to share views on AI’s development and its impact on markets and beyond. We break down what Elon Musk and Tom Lee had to say.
xAI founder Elon Musk said AI could surpass the combined intelligence of humanity in about five years, and humans are unlikely to retain control over the technology within the next decade. In an interview with The Economist’s editor-in-chief, he predicted an “age of abundance” where AI and robots provide virtually any goods and services.
Hot topic: Nvidia in Talks for $250B Guarantee to OpenAI for Largest AI Data Center Build
Separately, Fundstrat Global Advisors Head of Research Tom Lee called investor concerns over AI spending a bullish signal, arguing that skepticism doesn’t mean the market is near a top.
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‘Age of Abundance‘ and Risks: What Musk Said About AI’s Future
Musk said AI will soon be able to perform almost all intellectual tasks better than humans.
“There will be nothing left that AI can’t do better than humans — except perhaps being human,” he said.
He called the most likely scenario an “age of abundance,” tying the forecast to a 2036 horizon. At the same time, he acknowledged that the risk of a catastrophic outcome is not zero. He had previously estimated the probability of human extinction from AI and robots at 10% to 20%.
Rather than trying to slow development, Musk proposed that leading AI companies regularly discuss safety risks and give competitors limited pre-release access to new frontier models. Competing labs could then identify dangerous capabilities before public launch. If a company doesn’t address serious risks, authorities should step in.
Read more: US-China AI Race: Washington Accuses Moonshot AI of Stealing Anthropic Tech
What Else Musk Said: Criticism of OpenAI and View of Anthropic
In the same interview, Musk criticized Sam Altman and OpenAI’s transformation from a non-profit into a for-profit company.
“You started a non-profit that was supposed to be an open AI company owned by the world, and somehow it became a private company worth $800 billion with closed source,” he said.
Musk spoke more favorably of Anthropic CEO Dario Amodei, calling him a “principled person.” He said competing AI companies should cooperate on safety despite personal differences.
“In the end, if we have to talk, we’ll talk. Put personal differences aside for the good of the world,” he added.
Read more: Apple Sues OpenAI Over Trade Secret Theft — Amid Musk-Altman Feud
Tom Lee: Investor Skepticism Around AI Is Bullish
Fundstrat Global Advisors Head of Research Tom Lee said investor doubts about the AI growth cycle are a positive sign.
“The fact that many are skeptical and questioning the cycle’s length suggests the market hasn’t topped yet… I’d call that a bullish signal,” he told CNBC.
His view contrasts with investor Steve Eisman’s warning that the market could crash if tech giants cut AI budgets. Eisman specifically highlighted Nvidia’s dependence on major buyers. Lee, by contrast, compared current doubts to late 1990s skepticism about Cisco and other internet companies. Skepticism, historically, was often followed by further growth rather than a crash.
The key factors remain the Fed’s July 28-29 rate decision and major tech earnings this week. Their free cash flow and AI spending guidance could affect Treasury yields and Nasdaq. For investors, that means the coming days will determine whether the current uptrend continues or the market corrects.
Learn more: BitMine’s Tom Lee Explains Why ETH Price Is Falling — But Continues Buying Ethereum
