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LLM API Pricing

Mar 26, 2024 - botgenuity.com
The article provides an overview of Large Language Models (LLMs) offered by major tech companies like OpenAI, Anthropic, Google, Cohere, and Meta, focusing on their pricing and unique features. The pricing of these AI models is typically based on "tokens," with 1,000 tokens roughly equivalent to 750 words. The concept of "context length," or the model's short-term memory, is also crucial as it affects the model's performance, capabilities, and cost.

The article further details various models, including OpenAI's GPT-4 and GPT-3.5 Turbo, Anthropic's Claude 3, Meta's Llama 2, Google's Gemini and PaLM 2, and Mistral's models. Each model has its strengths, weaknesses, and price points, with some optimized for complex tasks, others for chatbots and conversational interfaces, and some for multilingual, reasoning, and coding tasks. The models also vary in their context length, speed, and cost, offering a range of options for different needs and budgets.

Key takeaways:

  • AI Large Language Models (LLMs) pricing usually revolves around tokens, with 1,000 tokens roughly equivalent to about 750 words.
  • Context length, or the model's short-term memory, affects the model's performance and cost. Longer context lengths allow for more complex tasks but are generally pricier.
  • Different AI models offer different strengths and price points. For example, OpenAI's GPT-4 is great at complex tasks but is pricier, while Anthropic's Claude 3 has an impressive context length but is slower and more expensive.
  • There are several options for different needs and budgets, including OpenAI's GPT-3.5 Turbo for chatbots, Meta's Llama 2 for English text summarization, Google's Gemini for performance, and Mistral's affordable and fast models.
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