GPT-4 API Pricing Analysis
The current model behind the GPT-4 API is named gpt-4–0314.
To access this model through the GPT-4 API, it will cost:
- $0.03 per 1k prompt request tokens*
- $0.06 per 1k completion response tokens*
*1k tokens is equivalent to ~750 words.
When compared to GPT-3.5, the GPT-4 API has doubled the max context length of tokens from 4,096 to 8,192.
The default rate limits for the GPT-4 API are:
- 40k tokens per minute
- 200 requests per minute
To sign up for the GPT-4 API waitlist, click here. You can also access GPT-4 today through ChatGPT Plus for $20 per month — currently capped at 100 messages every 4 hours.
In comparison, for $20, you can process ~444k tokens* (or ~333k words) with the GPT-4 API
*this figure assumes equal distribution of prompt and completion tokens.
However, the more significant comparison to consider is between the GPT-4 API and the ChatGPT API:
GPT-4 for prompts is 14x more expensive than the ChatGPT API; while, GPT-4 for completions is 29x more expensive than the ChatGPT API.
Is the GPT-4 API between 14x-29x more valuable to you than the ChatGPT API?
The primary consideration to make this decision will be your use case. If your use case is related to legal matters or general education/tutoring, then the GPT-4 is definitely worth kicking the tires.
All other use cases, will require in depth testing to determine if the increased costs will provide substantive benefits over the ChatGPT API.
Also, worth mentioning that OpenAI is providing limited access to their 32,768 context for prompts and completions — to enable sending/receiving 4x more text than gpt-4–0314.
The 32,768 max context length (about 50 pages of text) version of the GPT-4 API, will cost 2x of the 8,092 max conext length version:
- $0.06 per 1k prompt request tokens
- $0.12 per 1k completion response tokens
In conclusion, the choice between the ChatGPT API and the GPT-4 API hinges upon a careful examination of the specific requirements and constraints of your project. As you stand at the crossroads of cutting-edge technology, consider the factors that truly matter:
- the intended application
- desired accuracy
- ethical considerations
- financial implications
- adaptability to future advancements
Your decision, ultimately, will be a testament to your vision and your unwavering commitment to harnessing the transformative power of artificial intelligence.
