A major tech selloff is shaking up Wall Street as the enormous gulf between AI company valuations and their lagging revenues continues to grow. In short, there’s clearly a dark cloud gathering over the AI industry, where lofty claims of immense capabilities always seem to remain in the future, and investors are increasingly balking at astronomical spending on AI infrastructure. In an apparent attempt to calm spooked investors, SoftBank Vision Fund CFO Navneet Govil promised that the AI hype wouldn’t lead to a disaster. Investors continue to pour billions into the AI industry, with firms announcing billion-dollar deals and plans for enormous data center projects. More on the AI bubble: The Big Short Guy Just Bet $1 Billion That the AI Bubble Pops