OpenAI Initiates Price Drop and Fixes in Latest Model Updates

These updates underscore OpenAI's proactive approach to advancing its models, optimizing costs, and empowering developers.

OpenAI Initiates Price Drop and Fixes in Latest Model Updates
Photo by Zac Wolff / Unsplash

In its ongoing commitment to refinement and user satisfaction, OpenAI announces a series of updates, including reduced pricing and improved models. These changes, primarily catering to developers, signify OpenAI's continuous efforts to enhance its offerings.

Here's a breakdown of the key updates:

GPT-3.5 Turbo Price Reduction:

  • Input prices drop by 50%, now set at $0.0005 per thousand tokens.
  • Output prices see a 25% reduction, now standing at $0.0015 per thousand tokens.
  • The latest model version, 0125, brings various improvements, although specifics are not detailed.

GPT-4 Turbo Preview (0125):

  • A new preview model is introduced, addressing "laziness" issues observed in the previous iteration.
  • This model focuses on more thorough task completion, enhancing overall performance.
  • GPT-4 Turbo with vision is slated for a general availability launch in the coming months.

Text Embedding Models:

  • OpenAI introduces two new embedding models, catering to different use cases.
    • text-embedding-3-small: A highly efficient model with improved performance and a 5X reduction in pricing compared to its predecessor.
    • text-embedding-3-large: A larger model offering enhanced performance and flexibility, supporting embedding sizes up to 3072 dimensions.

Moderation API Update:

  • The free Moderation API receives an update with text-moderation-007, representing a robust solution for identifying potentially harmful text.

API Key Management:

  • Developers gain more control over API keys, allowing assignment of permissions directly from the API keys page.
  • The usage dashboard provides detailed metrics on an API key level, offering insights into usage patterns.

These updates showcase OpenAI's dedication to optimizing its models, improving accessibility, and empowering developers with advanced tools. As the AI landscape evolves, OpenAI continues to position itself as a leader, ensuring its user community benefits from cutting-edge solutions and cost-effective options.