The US's Massive Ordnance Air Blast bomb does not cost $314 million, or $16 million, but $170,000 a unit, the US Air Force told Business Insider on Friday.

The weapon, whose acronym inspired the nickname "Mother of All Bombs," was produced by the Air Force, not by a third party like Lockheed or Boeing, "so we don't have a standard procurement cost associated with them," an Air Force official said.

The $170,000 figure makes sense considering a general-purpose 1,000-pound MK-83 costs about $12,000. The MOAB simply features more high explosives and larger fins to direct the GPS-guided munition.

Many outlets, including The New York Times and Business Insider, inaccurately stated the cost of the MOAB as being in the millions. Business Insider's article has since been corrected to reflect this information.