For a long time, reports about OpenAI developing the next version of ChatGPT, GPT-5, have been doing rounds on the internet. While we got introduced to GPT 4o recently, there still is no word for GPT-5. And now, the ChatGPT maker recently announced its next product – the GPT-4o mini. Yes, you read that right. OpenAI CEO Sam Altman also took to X (earlier Twitter) to announce the new product and said that he thinks that people will like using the new model. He also added that it is cost efficient.
In his post, Altman wrote, “Towards intelligence too cheap to meter. 15 cents per million input tokens, 60 cents per million output tokens, MMLU of 82%, and fast. Most importantly, we think people will really, really like using the new model.” He added, “Way back in 2022, the best model in the world was text-davinci-003. It was much, much worse than this new model. It cost 100x more.”
Talking about the GPT-4o mini, it is a compact yet powerful AI model aimed at making artificial intelligence more affordable and accessible. Priced at just 15 cents per million input tokens and 60 cents per million output tokens, GPT-4o mini offers a cost-effective solution, significantly cheaper than models like GPT-3.5 Turbo.
According to OpenAI’s blog, GPT-4o mini achieves impressive performance metrics, scoring 82 per cent on the MMLU benchmark and outperforming GPT-4.1 on the LMSYS leaderboard for chat preferences. This model is capable of handling a wide range of tasks due to its low cost and fast response times, making it ideal for applications requiring multiple model calls, large volumes of context, or real-time text interactions, such as customer support chatbots.
Currently, GPT-4o mini supports text and vision inputs, with plans to include image, video, and audio inputs and outputs in the future. It has a context window of 128K tokens and supports up to 16K output tokens per request, with knowledge updated until October 2023. Its improved tokenizer also makes handling non-English text more cost-effective.
GPT-4o mini is now available through the Assistants API, Chat Completions API, and Batch API. It will be accessible to Free, Plus, and Team users on ChatGPT starting today, with enterprise users gaining access next week. OpenAI plans to introduce fine-tuning capabilities for GPT-4o mini soon.
Source: Sam Altman says people will like using ChatGPT mini, calls it a cost-efficient model
