The OpenAI API price calculator is a tool designed to help users estimate the cost of using OpenAI's various API services. These services include access to different language models, such as GPT-3 and GPT-4, which can perform a variety of tasks like text generation, summarization, translation, and more. The pricing for these services is based on the number of tokens processed, where a token can be as short as one character or as long as one word. See here how tokens are calculated, and below the comparison between the token input and output prices for different models.
The calculator is used to provide a clear understanding of potential expenses before committing to a certain usage plan. This is particularly useful for businesses and developers who need to budget their AI-related expenditures accurately. The calculator typically requires several inputs: the choice of model, the number of input and output tokens, and a multiplier to forecast future token usage.
The different components of the OpenAI API price calculator include:
Prompt: Paste your prompt into the input field. The calculator will automatically compute the number of tokens in your prompt.
Model Selection: Users choose which OpenAI model they plan to use, such as the new gpt-4o, GPT-4 (various versions like GPT-4-8K or GPT-4-32K), each having different pricing rates per token.
Input or Output : This is a picker on wether the prompt is for the input to the model or if you want to estimate the cost of the output from the model. This is important because the models have different costs for input and output tokens.
Multiplier: This factor is used to estimate the number of tokens required over a specified period. It helps forecast the future usage and scale the estimated cost accordingly.
