He said it’s easy to underestimate how big of a deal AI is, and that he believes foundational AI models are going to be the foundation of everything to come.

“There will not be a company in the world that is not, in some way, shape, or form, using AI in the future,” Kutcher said. “So every company is going to be an AI company. And it’s our thesis that whether it’s open source AI, whether it’s closed systems like Anthropic or OpenAI or World Labs, or whether you’re building software using Magic.dev, those things are going to be the underpinnings of everything else.”