Former Deputy Prime Minister Sir Nick Clegg has warned that the current wave of valuations across the artificial intelligence sector is “crackers”, arguing that many AI businesses have yet to demonstrate viable paths to profitability despite the billions pouring into machine learning. Speaking at The Times Tech Summit, Clegg said that even the world’s leading AI firms — including so-called “hyperscalers” developing large-scale models — are struggling to show how their capital expenditure will translate...










