If you’re subscribed to ChatGPT Plus, currently priced at $20 per month, brace yourself for potential price hikes. According to an internal report from OpenAI, obtained by the New York Times, the subscription fee could more than double by 2029, with the first increase coming as soon as late 2024.

Price Increases on the Horizon

The report suggests the initial bump will be an extra $2 per month by the end of 2024, pushing the subscription cost to $22. By 2029, ChatGPT Plus could cost as much as $44 a month. This significant rise comes as OpenAI seeks to offset the high operational costs of running the AI service, which is currently on track to lose $5 billion by the end of 2024.

Why the Price Hike?

Powering ChatGPT’s advanced models and features, including the newly rolled out Advanced Voice mode, is expensive. OpenAI has experienced rapid growth, with 10 million paying subscribers and projected annual sales of $11.6 billion by next year. However, the company remains unprofitable, leading to plans for further fundraising and price adjustments.

What to Expect

While these increases may affect current users, OpenAI is expected to add new features and more powerful AI models to justify the rising cost. Despite behind-the-scenes challenges, such as executive departures, users may still benefit from a continually improving service in the future.