Will the race to artificial general intelligence (AGI) lead us to a land of financial plenty – or will it end in a 2008-style bust? Trillions of dollars rest on the answer. The figures are staggering: an estimated $2.9tn (£2.2tn) being spent on datacentres, the central nervous systems of AI tools; the more than $4tn stock market capitalisation of Nvidia, the company that makes the chips powering cutting-edge AI systems; and the $100m signing-on bonuses offered by Mark Zuckerberg’s Meta to top engineers at OpenAI, the company behind ChatGPT. These sky-high numbers are all propped up by investors who expect
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