Earlier quoted context omitted.
Hinton and his students studied for years on US (and then Canadian) government grants. The year Alexnet came out, Nvidia was awarded tens of millions by DARPA for Project Osprey. It's an odd historical revisionism where from Fairchild to the Internet to the web to AI, government grants and government spending are washed out of the picture. The government funded AI research for decades.
I think their point is the billions in private investment which preceded those millions. I think this is a common issue in computer science, where credit is given to sexy "software applications" like AI when the real advances were in the hardware that enabled them, which everyone just views as an uninteresting commodity.
Hardware is just in general capital intensive, not even including all the intellectual capital needed. So it’s not that it’s uninteresting or even a commodity to me, it’s just a stone wall that whatever is there is there and that’s it in my mind.