Microsoft Corp. is raising the price of its package of Office apps for consumers, a bet that subscribers will be willing to cough up more for access to new artificial intelligence tools.

The Microsoft 365 bundle price is increasing in the U.S. for the first time in a dozen years as the tech giant adds artificial intelligence tools into longtime products like Microsoft Word. The cost of Microsoft 365 Personal and Family subscriptions will rise by $3 per month,

Microsoft is increasing the price of its consumer Microsoft 365 bundle by $3 per month as it adds AI features to various applications.