Elon Musk: More Humanoid Robots Than People by 2040

Elon Musk, CEO of Tesla and SpaceX, speaks at the 8th Future Investment Initiative conference, which began Tuesday in Riyadh (Asharq Al-Awsat)
Elon Musk, CEO of Tesla and SpaceX, speaks at the 8th Future Investment Initiative conference, which began Tuesday in Riyadh (Asharq Al-Awsat)
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Elon Musk: More Humanoid Robots Than People by 2040

Elon Musk, CEO of Tesla and SpaceX, speaks at the 8th Future Investment Initiative conference, which began Tuesday in Riyadh (Asharq Al-Awsat)
Elon Musk, CEO of Tesla and SpaceX, speaks at the 8th Future Investment Initiative conference, which began Tuesday in Riyadh (Asharq Al-Awsat)

Elon Musk, CEO of Tesla and SpaceX, suggested on Tuesday that humanoid robots could surpass the human population by 2040, also predicting that each robot will be priced about $25,000.

Musk was speaking at the 8th Future Investment Initiative conference, which began Tuesday in Saudi Arabia’s capital, Riyadh.

The Tesla CEO, who plans to launch about five uncrewed Starship missions to Mars in two years, voiced concerns about the existential risks associated with artificial intelligence. “AI poses a significant existential threat, and we need to address it seriously,” he said.

Musk then emphasized the critical role of birth rates in sustaining society. “If we don’t produce new humans, there’s no future for humanity, and all the policies in the world won’t change that,” he said.

The Tesla chief executive anticipated that by 2029, AI could perform any task a human can, also stressing the ongoing need for advanced computing skills and technological transformation.

Separately, Musk said he expects self-driving cars to start operating in both California and Texas next year. He stressed that the models will be safer than human driving

He said Tesla plans to increase production. He expected 9 to 9.5 million vehicles on the road by the end of next year.

In the long term, Musk said, Tesla aims to produce 100 million cars as the company starts the mass production of vehicles with no steering wheel or pedals by 2026.

Musk then argued that excessive bureaucratic regulation was stifling growth, particularly in the US.

He said the biggest obstacle to progress is bureaucracy and “that’s been growing every year, especially under the Biden administration.”



Gold Falls on Stronger Dollar after Trump Says He Won't Fire Powell

Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
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Gold Falls on Stronger Dollar after Trump Says He Won't Fire Powell

Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo
Jewellery is displayed at the Gold Souk market in Dubai, United Arab Emirates, March 14, 2025. REUTERS/Amr Alfiky/File Photo

Gold prices eased on Thursday, pressured by a firmer US dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.

Spot gold was down 0.6% at $3,335.77 per ounce, as of 0958 GMT. US gold futures fell 0.8% to $3,331.30.

The dollar index was up 0.3% against its rivals on Thursday, making greenback-priced bullion more expensive for other currency holders.

This comes after a source told Reuters on Wednesday that Trump was open to the idea of firing Powell, which pushed gold prices as much as 1.6% higher.

However, Trump later said he does not plan to sack Powell but left the door open to the possibility and renewed his criticism of the Fed chief for not lowering interest rates.

"Yesterday, gold prices rose on the back of these rumours, which were unfounded. Since the rumours were quelled, prices have been falling," said Nitesh Shah, commodities strategist at WisdomTree.

Investors are, meanwhile, awaiting US jobless claims and retail sales data on Thursday, along with speeches by several Fed officials that may offer insights into the central bank’s policy outlook.

In tariff-related news, Trump said on Wednesday that the US will probably "live by the letter" on tariffs with Japan and may have a trade deal coming up with India.

"I think if we come out of (the tariff deadline of) August 1 with much better trade deals, then that could be gold price-negative," Shah said.

Analysts noted that gold is currently showing limited reaction to trade uncertainties and is awaiting fresh catalysts. Prices remain range-bound between $3,300 and $3,400.

Elsewhere, spot silver fell 0.4% to $37.77 per ounce. Platinum lost 0.3% to $1,412.78 and palladium eased 0.6% to $1,223.03.