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New Embedding Models and API Updates

openai.com
January 25, 2024

OpenAI announces the release of new embedding models text-embedding-3-small and text-embedding-3-large, offering improved performance and cost efficiency compared to previous generations. The update includes dimension flexibility and enhanced multilingual capabilities.

Why it matters: OpenAI's new embedding models set new benchmarks for retrieval quality while reducing costs, making semantic search more accessible and performant for production applications.

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