Introducing ChatGPT and Whisper APIs
> It is priced at $0.002 per 1k tokens, which is 10x cheaper than our existing GPT-3.5 models.This is a massive, massive deal. For context, the reason GPT-3 apps took off over the past few months before ChatGPT went viral is because a) text-davinci-003 was released and was a significant performance increase and b) the cost was cut from $0.06/1k tokens to $0.02/1k tokens, which made consumer applications feasible without a large upfront cost.A much better model and a 1/10th cost warps the economics completely to the point that it may be better than in-house finetuned LLMs.I have no idea how OpenAI can make money on this. This has to be a loss-leader to lock out competitors before they even get off the ground.