CNBC Exclusive: Excerpts: Tudor Investment Corporation Founder & CIO and Robin Hood Foundation Founder & Board Member Paul Tudor Jones Speaks with CNBC's Andrew Ross Sorkin on 'Squawk Box' Today
WHEN: Today, Tuesday, May 6, 2025
WHERE: CNBC's "Squawk Box"
Following are excerpts from the unofficial transcript of a CNBC exclusive interview with Tudor Investment Corporation Founder & CIO and Robin Hood Foundation Founder & Board Member Paul Tudor Jones on CNBC's "Squawk Box" (M-F, 6AM-9AM ET) today, Tuesday, May 6. Following are links to video on CNBC.com: https://www.cnbc.com/video/2025/05/06/paul-tudor-jones-ai-poses-an-imminent-threat-to-humanity-in-our-lifetime.html and https://www.cnbc.com/video/2025/05/06/paul-tudor-jones-stock-market-will-hit-new-lows-even-if-trump-cuts-china-tariffs-to-50-percent.html.
All references must be sourced to CNBC.
JONES ON AI
PAUL TUDOR JONES: These models are increasing in their efficiency and performance between on the very low end, 25% on the high end, 500% every 3 or 4 quarters. So it's not even curvilinear. It's a vertical lift and how powerful artificial intelligence is becoming.
JONES: There's a 10% chance in the next 20 years that AI will kill 50% of humanity. So there's a 10% chance that AI will kill 50% of humanity in the next 20 years. Agree or disagree? So I'd say the vast majority of the room moved to disagree side. I had just heard Joe Rogan and Elon Musk two months ago, where Elon Musk said there's only a 20% chance that AI can annihilate humanity. Now I know why he wants to go to Mars right?
JONES: Can I just say I'm not a tech expert, I'm not. But I've spent my whole life managing risk. I that's why I'm here today, is because I'm a I'm as good as there is on macro risk management. And we just have to realize to their credit, all these folks in AI are telling us we're creating something that's really dangerous. It's going to be really great too, but we're helpless to do anything about it. That's to their credit, what they're telling us. And yet we're doing nothing right now and it's and it's really disturbing.
JONES: First of all, again, I think markets are irrelevant with regard to this particular topic.
ANDREW ROSS SORKIN: Because it's existential.
JONES: It's existential, and they're telling us that.
JONES ON TRUMP & AI
JONES: President Trump has to get in the game. He has to be in the game. You can have good deregulation and good regulation side by side. They're not mutually exclusive. So in this particular instance, in on his watch and on President Xi's watch, in the next four years, we'll probably have artificial superintelligence, which means you take one of these algorithms. It's smarter than any human on Earth, have more than a PhD equivalent. And then you link them with a million others, and we're going to have that big bang. We're going to have artificial superintelligence. So he has to get in the game.
JONES: We have cars that can go twice the speed limit. We have planes that can break the sound barrier, but we have created regulations for our safety and for social cohesion to live within that. So we have this large language model has been around for 30 months. It took the greatest generation 18 months for the Atomic Energy Commission to be formed. We have, he has to get in the game and focus like he does on tariffs and on the border. He has to get in the game and regulate this.
JONES ON THE MARKETS
JONES: You have Trump who's locked in on tariffs. You have the Fed who's locked in on not cutting rates. That's not a good, that's not good for the stock market. We'll probably go down to new lows until either even when Trump dials back China to 50%.
SORKIN: And that's what you're expecting.
JONES: Oh I'm sure he'll dial back to 50 sometime. I mean, I think that's kind of in the market right now. So he'll dial it back to 50 or 40 whatever. Even when he does that, you got those tariffs the equivalent of a 2%, it would be the largest, there are tax, it's like the largest tax increase since the 60s. So you can kind of take 2 to 3% off growth. And then you've got the Fed who's unless they got really dovish and really really cut, you're probably going to yeah you're probably going to new lows. And then when we're in new lows, the hard data will start to follow. And it'll probably create the fed to move, create Trump to move and then we'll get some kind of rally.
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