“I think by 2040, there will probably be more humanoid robots than there are people,” Musk said Tuesday during an appearance at the Future Investment Initiative, an event run by the institute of the same name. The institute was launched in 2017 by Saudi Arabia’s Public Investment Fund.

That estimate would put around 10 billion humanoid robots in use around the world. Musk said the price for a “robot that can do anything” would likely cost between $20,000 and $25,000 apiece.