Former Meta executive Nick Clegg says AI hype may be ahead of its time: ‘…could be headed for…’

Former Meta executive and British politician Nick Clegg has said that the chance of a market correction in the artificial intelligence sector is “pretty high”. Speaking with CNBC’s Arjun Kharpal for “Squawk Box Europe”, Clegg warned that the AI boom has resulted in “unbelievable, crazy valuations.”

“There’s just absolute spasm of almost daily, hourly, deal making,” he said, adding “You’ve got to think, wow, this could be headed for a correction”. He further stated that the chances of AI market correction is “pretty high.”