Elon Musk endorsed Cloudflare’s view that machine-generated internet activity is on track to dominate the web, saying AI-driven, or "agentic," traffic will "obviously VASTLY exceed human usage" and that the company’s forecast is accurate. The discussion follows Cloudflare’s second-quarter earnings call, where CFO Thomas Seifert said bot traffic had already surpassed human traffic in 2026, ahead of the company’s earlier 2027 expectation, and warned humans could become a "rounding error" online as non-human activity accelerates. Michael Burry pushed back on the implication that this alone signals a major breakthrough, writing that the threshold is lower than many assume and that it is still unclear "who will pay for AI agents to socialize." The exchange lands as major technology companies sharply increase AI-related capital expenditures, with Amazon, Alphabet, Meta, Microsoft and Oracle projected to spend roughly $800 billion this year, much of it on AI systems and data centers, fueling broader concerns about whether the spending boom can be justified by future demand.