Elon Musk has a big prediction: humanoid robots are going to make everyone wealthy. Speaking Wednesday at the U.S.-Saudi Investment Forum alongside Nvidia CEO Jensen Huang and Saudi Communications Minister Abdullah A. Alswaha, the Tesla Inc. (TSLA) chief painted a picture of a world where AI and robots handle most work, dramatically lowering costs and expanding access to everything from healthcare to entertainment.

Traditional Poverty Programs Haven't Worked, Musk Says

Musk didn't mince words when discussing decades of global anti-poverty efforts. He told the audience that while governments and nonprofits have "tried many approaches," the results have been underwhelming at best. The implication? You can't redistribute your way to universal prosperity. But you might be able to automate your way there.

Robots Will Do the Heavy Lifting

Here's the vision: humanoid robots, including Tesla's Optimus and similar machines from competitors, take over most physical and cognitive tasks. That drives costs down and scales up production of goods and services in ways that simply weren't possible before. Musk suggested the average person could soon access services that outperform what even today's billionaires enjoy. Think advanced medical care, personalized education, immersive entertainment—all at a fraction of current costs.

He framed it as the only realistic path to making "everyone wealthy," not through aid programs or tax policy, but through technology that fundamentally changes the economics of labor.

After the forum, Musk doubled down on the prediction via X, saying the most likely outcome is a world where AI and robotics deliver prosperity beyond anything humanity has seen.

But There's a Catch

This utopian future isn't guaranteed. Musk emphasized that AI must be aligned with core human values for any of this to work. Specifically, he said AI systems need to be deeply connected to "truth and beauty." Without that alignment, the technology could veer off course. It's a familiar theme for Musk, who has long warned about AI risks even as he builds companies that push the technology forward.

Tesla Beats Revenue Expectations After Four Misses

Meanwhile, back in the world of quarterly earnings, Tesla delivered some good news. The company reported third-quarter revenue of $28.095 billion, a 12% jump from the same period last year. That crushed Wall Street's consensus estimate of $26.239 billion—a nearly $2 billion beat.

It was Tesla's first revenue beat in five quarters, ending a streak of four consecutive misses. Automotive sales contributed $21.21 billion to the total, up 6% year-over-year.

The company shows strong medium- and long-term growth potential, though short-term momentum has cooled. Still, beating estimates by that margin suggests Tesla is finding its footing again after a bumpy stretch.

Whether Musk's robot-powered utopia materializes remains to be seen. But for now, Tesla is at least delivering on the more mundane promise of exceeding quarterly revenue targets.