We can now put a price tag on a view of the edge of the universe: $1 billion.

That’s what it’s going to cost to build the Giant Magellan Telescope, and we’re officially on our way to bringing the massive device to fruition.

On Tuesday, GMTO Corporation (GMTO), the company spearheading the project, announced it had begun construction on the telescope at Las Campanas Observatory in Chile.

Once completed, the massive device will consist of seven round mirrors arranged like a honeycomb that measure a total of 24 meters (80 feet) in diameter. An advanced computer program will help it correct the distortion caused by Earth’s atmosphere. This combination of sophisticated hardware and software will make the Giant Magellan Telescope will be 10 times as precise as the Hubble telescope.

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