Tech titan Elon Musk says artificial intelligence (AI) could surpass the collective intelligence of humanity in just a few years. In a panel discussion at the All-In Summit, the billionaire says that advances in AI will continue as processing power scales, noting that incremental leaps in compute will yield massive jumps in capability “I think there’s a natural logarithmic function associated with the amount of compute. So then, like, say, for argument’s sake, like 10x more compute will double the intelligence… That still means that you go from 100 IQ to 200 IQ. So pretty, pretty big deal.” Musk predicts…
Author: Henry Kanapi
Henry Kanapi
Henry Kanapi is a journalist and editor covering the intersection of artificial intelligence, financial markets, and technology disruption. He has sourced, written, and edited thousands of stories on crypto, banking, and macroeconomics as Senior Editor at The Daily Hodl, where he helped shape coverage for an audience of over two million monthly readers. At CapitalAI Daily, Henry brings a decade of newsroom experience to fast-paced reporting on AI breakthroughs, market shifts, fraud cases, and regulatory battles. His focus is on accuracy, clarity, and exposing how money moves in the age of artificial intelligence. Henry’s work has been cited by leading financial outlets, investment firms, and research communities tracking the future of markets. He is committed to a high editorial standard rooted in transparency and trust.
OpenAI chief executive Sam Altman says artificial intelligence could drive the economy into an era of radical abundance, but warns that society must solve a new problem. In an interview with venture capitalist Vinod Khosla, Altman says AI is likely to make many goods and services cheaper amid an economy driven by deflation rather than inflation. He paints a picture of everyday essentials becoming universally affordable. “I think it should be hugely, I hope it’s deflationary, I think it should be… I hope that things like water and food and healthcare and education and access to nature and time with…
Morgan Stanley says the rapid expansion of artificial intelligence (AI) could run into a resource bottleneck far beyond chips. In a research note circulating on X, the bank projects that AI data centers will drive annual water use for cooling and electricity generation to new heights in just four years. “We expect AI data centers to drive annual water consumption for cooling and electricity generation to approximately 1,068 billion liters by 2028 (our base case) – an 11x increase from 2024 estimates.” The surge comes as demand for generative AI compute explodes. Morgan Stanley forecasts power needs will expand significantly,…
Billionaire entrepreneur Mark Cuban says college students and new graduates have an unprecedented advantage as artificial intelligence tools reshape the economy. In a panel discussion at the All-In Summit, Cuban says he’s discouraging his children from pursuing a job at big firms, noting that they are intent on adopting AI. But he says that college graduates can have a huge advantage at small or medium-sized firms if they can actually set up tools, connect systems, or automate workflows using AI. “So I got two kids in college. And what I tell them is, if you were looking for a job…
Morgan Stanley says the record-setting rally can continue as artificial intelligence (AI) drives a new phase for markets, and it’s laying out four themes for investors to follow. In a CNBC interview, Morgan Stanley private wealth advisor Sherry Paul says investors shouldn’t assume the run is over just because indexes keep climbing higher. But she warns that investors who are chasing the market should allocate funds to sectors and companies that have structural support or macro tailwinds. “It’s important, especially for individual investors, because just because the market hits new highs doesn’t mean that we’re not going to hit more…
ElevenLabs employees are set to cash out tens of millions of dollars as the AI voice startup opens a secondary sale that values the company at $6.6 billion, double its worth from January. The company says the staff can sell up to $100 million of stock in a tender led by Sequoia Capital and Iconiq Growth, with participation from Andreessen Horowitz, reports Bloomberg. The move allows early employees to realize gains from the AI boom while new investors expand their stakes. Founded in 2022, ElevenLabs makes artificial voices that can mimic human speech in multiple languages. Its technology is used…
Nebius shares surged after the company announced a multibillion-dollar contract to supply Microsoft with the computing power needed to run advanced artificial intelligence models. The Amsterdam-based firm said it will provide GPU infrastructure capacity worth $17.4 billion over five years, reports Reuters. The deal may expand to $19.4 billion if Microsoft purchases additional services. The news sent NBIS shares flying in after-hours trading, soaring from $64.19 to as high as $102.98, an over 60% climb in a matter of hours. Nebius specializes in providing Nvidia graphics processing units and cloud services tailored for AI developers. Its platform combines computing, storage,…
AI firms Databricks and Cognition have vaulted into the highest tier of artificial intelligence startups, pulling in billions from top venture firms as investor appetite shows no signs of cooling. Databricks closed a $1 billion round that values the San Francisco software company above $100 billion, while Cognition secured $400 million at a $10.2 billion valuation, reports Bloomberg. The combined tally tops $110 billion, underscoring the scale of money pouring into AI’s infrastructure and applications. Databricks makes software that helps companies organize massive piles of information and then use it to train and run AI. The firm is now moving…
Rebecca Patterson, the former chief investment strategist at Bridgewater Associates, says corporate CFOs are preparing for layoffs as companies face pressure to adopt artificial intelligence (AI) without increasing budgets. In an interview with Risk Reversal Media, Patterson describes a discussion she held with US corporate CFOs under Chatham House rules. She says the responses revealed a striking bias toward job cuts next year. “But the big risk I’m worried about is jobs. If you don’t have a job, you’re not consuming. If you’re not consuming, earnings expectations get hit. What triggered this idea for me was a discussion about three…
One of the investors who made massive returns after shorting the housing market during the 2008 Global Financial Crisis is unveiling a bear-case scenario for the artificial intelligence trade. In a new episode of The Real Eisman Playbook, Steve Eisman says that tech titans, including Google, Meta, and Amazon, are sinking hundreds of billions of dollars into AI models and infrastructure. The investor draws a line back to 1999, noting that overinvestment in the Dot-Com rush helped trigger the 2001 recession and that tech underperformed for years afterward, a potential analogue to today’s tech capital expenditures (CapEx). “My answer is…