OpenAI reportedly plans to increase ChatGPT's price to $44 within five years

OpenAI is reportedly telling investors that it plans on charging $22 a month to use ChatGPT by the end of the year. The company also plans to aggressively increase the monthly price over the next five years up to $44.

The documents obtained by The New York Times shows that OpenAI took in $300 million in revenue this August, and expects to make $3.7 billion in sales by the end of the year. Various expenses such as salaries, rent and operational costs will cause the company to lose $5 billion this year.

OpenAI is reportedly circulating the documents the NYT reported on as part of a drive to find new investors to prevent or lessen its financial shortfall. Fortunately, OpenAI is raising money on a $150 billion valuation, and a new round of investments could bring in as much as $7 billion.

OpenAI is also reportedly in the midst of switching from a non to for-profit company. The business model allows for the removal of any caps on investor returns so they'll have more room to negotiate for new investors at possibly higher rates.

This article originally appeared on Engadget at https://www.engadget.com/ai/openai-reportedly-plans-to-increase-chatgpts-price-to-44-within-five-years-225413308.html?src=rss