OpenAI plans to raise the ChatGPT subscription price to $22 by the end of this year and to $44 within 5 years

OpenAI is telling investors that it plans to raise its ChatGPT subscription rate to $22 per month by the end of the year and to $44 over the next five years.

Here's What We Know

The company earned $300 million in August and expects revenue of $3.7 billion by the end of the year. However, despite strong revenues, OpenAI is projecting a $5 billion loss due to high costs for salaries, rent, and operating expenses.

The company is actively seeking new investors to narrow the financial gap, offering investments based on a $150 billion valuation. It is expected that the new round of investment could raise up to $7 billion. OpenAI is also in the process of transitioning from a nonprofit to a for-profit model, which would remove restrictions on investor returns and raise more funds.

Source: The New York Times