Technical News Office – OpenAI has decided to increase the prices of ChatGPT Plus. The company plans to more than double the subscription price over the next five years. The reason is the increasing cost of operating an advanced AI service like ChatGPT. The company is also working to improve its AI model by increasing revenue. However, due to the price increase, some users may be hesitant to use this service.
OpenAI’s financial situation deteriorates
OpenAI is expected to suffer a loss of around $5 billion this year. The company is preparing to close a new round of funding to strengthen its financial position. Apart from this, an official account of the company was recently hacked. According to a recent report, the company is planning to increase the monthly subscription price by $2, which would be around Rs 167 in India. However, the price hike will not stop there, as OpenAI is expected to increase the subscription price by $44 or around Rs 3,690 in the next 5 years.
When could OpenAI prices increase?
Let us tell you that OpenAI launched ChatGPT Plus subscription in February at $20 per month (around Rs 1,677). According to a New York Times report, the AI company may increase its prices by the end of 2024. The report states that the ChatGPT Plus subscription could reach $44 per month by the end of 2029.
Millions of ChatGPT Plus users
OpenAI currently has around 10 million ChatGPT Plus users, which means that if prices for the Plus subscription increase, the company stands to see a lot of profit. As the popularity of ChatGPT increases, its demand also continually increases. By raising prices, the company can attempt to control demand and balance supply.
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