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OpenAI's ChatGPT continues to lead the generative AI chatbot space, but the initial hype—lasting just over a year—appears to be fading quickly, as reflected in the latest monthly website traffic data.

New data from Goldman's Peter Oppenheimer, citing analytics firm Similarweb, reveals that the total number of monthly visits to ChatGPT's website sharply declined from spring through mid-summer, as reported in a note to clients on Thursday.

Here's more from Oppenheimer: 

The implosion in monthly visits doesn't suggest an end to OpenAI; instead, customers are bored with GPT-4 or have gravitated to other large language models powered by big tech, such as xAI's Grok. There's a very real possibility that some users have found no need to integrate chatbots into their daily lives. 

As OpenAI's LLMs become more advanced, ChatGPT will also improve, allowing the startup run by Sam Altman to unveil new premium chatbots where it can charge white-collar workers well above the $20 a month (current rate for GPT-4). 

On Thursday, The Information said executives at OpenAI have discussed new pricing models that cost as much as $2,000 per month for upcoming advanced LLMs, such as a new reasoning-focused LLM dubbed "Strawberry" and a new flagship LLM called "Orion." 

People with direct knowledge of OpenAI's proposed subscription price, which could soon cost some users $2,000 a month for premium LLMs, said nothing is final, suggesting there are 'strong doubts the final price would be that high.' 

The Information pointed out, "Still, it's a notable detail because it suggests that the paid version of ChatGPT, which was recently on pace to generate $2 billion in revenue annually, largely from $20-per-month subscriptions, may not be growing fast enough to cover the outsize costs of running the service. Those costs include the expenses of a free tier used by hundreds of millions of people per month." 

On Friday, Goldman's Jacob Malmstrom commented on Oppenheimer's note to clients: 

Meanwhile, venture capital firm Thrive Capital and a handful of big tech companies, such as Apple and Nvidia, are planning to invest in OpenAI at (or around) a $100 billion valuation.