OpenAI plans subscription price increase for ChatGPT Plus to address rising costs

OpenAI plans to increase the monthly subscription fee for ChatGPT Plus from $20 to $22 before the end of 2024. This change is part of a strategy to address high operational costs, which are projected to reach $5 billion this year. Over the next five years, the subscription price could rise significantly, potentially reaching $44 by 2029. OpenAI aims to boost its annual revenue to $100 billion by that time, comparable to major companies like Reliance Industries. The company faces substantial expenses, particularly in cloud computing, despite receiving around $13 billion annually from Microsoft. The planned price hikes are intended to help OpenAI manage these costs as it shifts to a for-profit model.