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After comparing the billions of dollars going into AI development to crypto hype, Googles AI chief executive said Monday the company will spend over $100 billion over time to develop AI technology.

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Demis Hassabis, chief executive of Google DeepMind, talked about the tech giants investment into AI during a TED conference in Vancouver on Monday, where he was asked about OpenAIs and Microsofts reported plans for a U.S.-based data center referred to as Stargate, Bloomberg reported. The data center would house a supercomputer made up of millions of AI chips, and could cost up to $100 billion, The Information reported, citing unnamed sources.

We dont talk about our specific numbers, but I think were investing more than that over time, Hassabis said in response to the question about Stargate. He didnt offer further details on Googles spending plans, Bloomberg reported. Hassabis, who co-founded AI startup DeepMind in 2010 before it was acquired by Google in 2014, reportedly added that Google parent Alphabet has better computing power than its rivals, including Microsoft.

Thats one of the reasons we teamed up with Google back in 2014, is we knew that in order to get to AGI we would need a lot of compute, Hassabis said. Artificial general intelligence (AGI) is the point at which AI reaches human-level knowledge across a range of tasks. Google had and still has the most computers, Hassabis said.

In March, Hassabis told the Financial Times that the billions of dollars being poured into AI is reminiscent of crypto hype, and is taking attention away from the phenomenal science and research behind its development.

The investment into AI brings with it a whole attendant bunch of hype and maybe some grifting, he said, comparing it to crypto and similar areas, adding that the sentiment has now spilled over into AI, which I think is a bit unfortunate.

However, Hassabis said he thinks the industry is only scratching the surface of what is possible. Were at the beginning, maybe, of a new golden era of scientific discovery, a new Renaissance, he said.

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Google will spend more than $100 billion on AI, exec says - Quartz