A bit much
$32B? Seems a bit high to me. Especially for a "technology" that looks to be an enormous resource drain and very likely a major PITA for users while the bugs are worked out of the initial half baked implementations. Based on the difficulty in developing "safe" autonomous cars (15 years of R&D and still just one or two fixes -- if you believe Elon -- from being ready for prime time), my guess is that AI that any sane person would want to inflict on society, is probably 3 to 5 DECADES away, not 3-5 hours/days/months as the con-artist caucus would have us believe. And very likely once we know what we're doing it will turn out to have quite limited utility and to not be all that resource intensive.
So, give a modest amount of money to DARPA for AI research. Overall, DARPA seems to do a pretty good job of managing R&D. And they're defense oriented. if AI actually has military applications they're likely to do a better job of assessing risks and benefits than folks with products to sell. Let's see what they come up with.
But ,,, but ...but .. we might lose the AI race and Sam Altman et. al. might have to find honest employment? Yep. Could happen. I think I could live with that