Top VC explains why he thinks the sky-high valuations of AI companies aren't justified, predicts 'a lot of destruction'

• Josh Wolfe of Lux Capital questions the long-term value of artificial intelligence investments.
• AI spending is up, and startups are securing valuations worth hundreds of millions.
• Wolfe highlights a gap between AI companies' revenue and the economic value needed for returns.

The tech industry is buzzing with talk about the value of artificial intelligence, but not all investors are convinced it will pay off.