OpenAI is reducing the price of the GPT-3 API -- here's why it matters

Were you unable to attend Transform 2022? Check out all of the summit sessions in our on-demand library now! OpenAI is slashing the price of its GPT-3 API service by up to two-thirds, according to an announcement on the company's website. The new pricing plan, which is effective September 1, may have a large impact on companies that are building products on top of OpenAI's flagship large language model (LLM). The announcement comes as recent months have seen growing interest in LLMs and their applications in different fields.