OpenAI is thinking about slashing its per-token pricing—pretty aggressively, actually—as it tries to stay ahead of Anthropic and calm angry enterprise customers complaining about ballooning AI costs. At least, that’s what people familiar with the talks told The Wall Street Journal. This comes as both companies gear up for blockbuster IPOs, which investors hope will shed light on their actual business models and profits.
Businesses Aren’t Happy About Costs
Big clients are seriously worried about their AI bills. At an OpenAI event in early June, CEO Sam Altman basically admitted it’s a growing headache. He said that while cost complaints were rare at the start of the year, now they’re “a huge issue.” Some companies even said they blew through their entire 2026 AI budget in just the first quarter. That’s wild—and they’re demanding some real pricing changes.
Companies are already tightening up. Uber and Walmart have set limits on employee use of advanced AI tools. Amazon axed an internal leaderboard for token usage after costs shot up. There was also a nameless firm that spent about $500 million on Anthropic’s Claude in a single month—a reminder of how fast these bills can spiral.
IPO Pressure and Pricing Moves
OpenAI’s timing here is pretty delicate. They filed confidential IPO paperwork on June 8, right after Anthropic did on June 1. Both want sky-high valuations—close to $1 trillion—so showing strong growth and healthy margins matters a ton if they want investors to trust them. OpenAI’s fundraising pitch suggests they’re not expecting to turn a profit until 2030—so they’re in this for the long haul.
Inside the company, people are debating whether revenue can grow fast enough to cover the massive costs of their computing and data centers. Cutting prices would definitely keep big customers happy, but it would squeeze already thin margins thanks to their expensive operations. Anthropic hasn’t just kept pace—they’ve gained ground in valuation and enterprise deals. Price cuts have already shaken things up: DeepSeek, a Chinese startup, dropped prices by up to 75% for its main model in May, making it up to nine times cheaper than some U.S. competitors. That puts a target on everyone’s back—either match the prices or risk losing customers who care about cost.
Strategy Versus Market Risks
OpenAI’s decision isn’t easy. They can slash prices to hold onto customers and maybe lure in more, but that means bringing in less revenue per user right now. Or, they can keep prices steady, protect margins, and risk losing customers—and earning a reputation for being too expensive. Lower prices might lock in big clients, but investors are going to want assurance it won’t drag out the path to profitability.
Cutting prices can also send a message ahead of an IPO: maybe they’re signaling that they want to grow fast and defend market share, which some investors like, but it’ll also raise doubts about whether they can keep their prices up over time. Enterprise buyers are getting smarter about cost control. They don’t just want a discount—they’re asking for tools to actually keep usage in check. Things like quotas, alerts, and cost tracking features. Analysts think that companies who combine better pricing with smarter cost management will keep their customers without destroying their margins.
Wider Impact Across the Industry
If the big AI players start a price war, everyone’s going to feel it. Smaller startups might enjoy cheaper tools for a while, but could struggle more if the giants use pricing as a way to squeeze them out. Data center operators and chip suppliers might get caught, too—if revenue doesn’t grow fast enough to cover all the hardware investments, their margins take a hit. Then again, lower prices could make AI more accessible, growing the whole market even if per-customer revenue shrinks.
For business customers, lower prices are great news—at least at first. But procurement teams want more than just discounts; they want predictable, manageable spending. The rush to fix costs right now highlights how contract design—and not just the sticker price—will determine how companies buy and use AI.
What Happens Next?
What matters now is whether OpenAI actually makes these price cuts, and how Anthropic and other rivals react. Investors are going to be glued to upcoming IPO filings, looking for updates on revenue, profit margins, and capital spending plans. On the buyer side, watch for policy changes: tougher caps, more usage controls—all signs that companies are serious about balancing their need for top-tier AI with real cost discipline.
