OpenAI has announced the launch of its most advanced reasoning model yet o3 Pro for ChatGPT Pro and Team users. The new release is accompanied by a major price reduction of 80% on the standard o3 model, now priced at $2 per million input tokens and $8 for output tokens. OpenAI CEO Sam Altman confirmed the price cut and hinted that o3 Pro pricing will also reflect its strong performance-to-cost ratio.