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ChatGPT subscription prices might rise from $20 to $22 per month by year-end, with further increases potentially reaching $44 per month by 2029.
OpenAI‘s revenues are growing significantly. In August, the company’s monthly revenue surged to $300 million, a 1,700 percent increase since early 2023, according to The New York Times, which references internal OpenAI documents. The tech giant had around 350 million monthly users of its services in June, up from about 100 million in March.
Most of the revenue growth is attributed to the rise of ChatGPT, which debuted in November 2022. A notable spike occurred when users were allowed to access the service without an account. OpenAI expects ChatGPT to generate $2.7 billion this year, up from $700 million in 2023 and $1 billion from other businesses leveraging its technology.
Approximately 10 million ChatGPT users subscribe at a monthly fee of $20, which OpenAI plans to increase by $2 by year-end and to $44 over the next five years.
The company expects around $3.7 billion in annual sales this year, projects $11.6 billion next year, and anticipates reaching $100 billion by 2029, comparable to Nestlé or Target.
OpenAI Under Investor Pressure
Despite this revenue growth, OpenAI anticipates losing around $5 billion this year. Major expenses, including staffing and AI training, have contributed to this situation, with ChatGPT reportedly costing $700,000 per day at one point.
Under investor pressure, OpenAI needs to implement aggressive measures to cut losses. However, the company risks backlash from users if it raises prices too quickly. Surveys show that many of its 10 million paying subscribers already view the current $20 monthly fee as too high.
OpenAI is pursuing a funding round that could close as soon as next week and raise up to $6.5 billion, potentially boosting its valuation to over $150 billion. Companies like Microsoft, Nvidia, Apple, Thrive Capital, Tiger Global, and UAE-based MGX are reportedly in talks to invest.
These funding discussions also align with OpenAI’s plan to restructure as a for-profit benefit corporation, separate from its nonprofit board, which will retain a minority stake. However, deal negotiations may be affected by the recent departure of three high-profile executives.
