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ChatGPT subscription prices expected to rise significantly 📈
TL;DR
OpenAI plans to raise ChatGPT subscription costs, risking user retention and possibly prompting competitors to offer cheaper alternatives.
This move is part of efforts to address a significant $5 billion operational loss this year.
Key Takeaways
OpenAI plans to increase ChatGPT subscription costs from $20 to $22 per month by the end of 2024. By 2029, the price might rise to $44/month.
Despite monthly revenues of $300 million, OpenAI expects a $5 billion loss this year due to high operational costs.
Surveys suggest many users already find the $20 monthly fee high, risking retention with further price hikes.
Higher prices might push competitors to offer cheaper alternatives, potentially changing market dynamics.
Why It Matters
Hundreds of thousands of users relying on ChatGPT Plus might face higher costs, potentially impacting budgets. Weighing cost versus value and exploring affordable AI alternatives will become crucial as subscription prices rise.
📰 On the News
Headlines & Launches 📣
Moveworks Hits $100M ARR with AI
Moveworks, an AI-driven platform, has surpassed $100 million in annual recurring revenue by automating tedious tasks like IT troubleshooting and HR queries. Serving over 5 million employees across 350+ companies, it offers productivity boosts and cost savings.
$1B AI-Driven Drug Deal Inked
Novartis collaborates with Generate:Biomedicines to leverage AI for developing protein therapeutics, potentially generating over $1B. The partnership aims to expedite drug discovery and reduce costs, integrating AI and experimental validation with Novartis' capabilities. This deal follows Novartis' strategic AI initiatives in collaboration with Microsoft.
Miscellaneous 🎁
Apple AI Needs 4GB Free Space on iPhone
Apple's latest AI, Apple Intelligence, launches with iOS 18.1 and requires 4GB of free space on iPhone 15/16 models. Upcoming features include writing assistance, photo cleanup, and enhanced Siri. Future updates promise more AI tools like ChatGPT integration and custom emoji creation.
AI Recreates Essence of Deceased
Justin Harrison’s 'You, Only Virtual' aims to use AI to recreate lost loved ones from their digital footprints. The Guardian delves into how this 'grief tech' captures online activities and the ethical questions it raises.
AI Growth Strains U.S. Power Grid
The rising energy demands of AI technologies like ChatGPT-4 expose weaknesses in the U.S.'s outdated power grid. The article highlights the urgency for modernizing infrastructure to sustain AI advancements and maintain global competitiveness, showcasing China’s efficient grid expansions as a stark contrast.
AI Industry Stops Regulation Bill
California's SB 1047, which aims to enforce stringent AI regulations, was vetoed by California governor Gavin Newsom despite strong legislative and public support. Major AI firms like OpenAI, Meta, and Google argued for federal regulation instead.
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— Cagri Sarigoz
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