DeepSeek is steeply raising the prices for its flagship V4 models, bringing the low-cost provider’s rates closer to those of major artificial intelligence rivals.

A new peak-hour pricing will increase the Chinese company’s rates by more than four times from the current levels, according to a post on its website Thursday. The price increases will take effect on Aug. 16.

Going forward, users will pay $1.32 for 1 million output tokens during peak hours, and half that during off-peak hours, for the DeepSeek-V4-Flash model. That’s up from $0.28 for 1 million tokens previously.

The increase still leaves DeepSeek’s pricing below that of some of its main competitors. Anthropic PBC’s state-of-the-art Fable 5 service sets that pricing at $50. DeepSeek gave an advance warning last week that it would hike prices, without specifying the exact increases.

DeepSeek’s V4-Pro model will cost $3.96 for 1 million tokens at peak hours and half that at non-peak hours, it said. That’s up from the current $0.87 per million tokens.