OpenAI Says Pricing For Text-Embedding-3-Small Has Been Reduced By 5x Compared To Text-Embedding-ada-002, From Price Per 1K Tokens Of $0.0001-$0.00002
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OpenAI has announced a significant price reduction for its Text-Embedding-3-Small model, which is now 5 times cheaper than the previous Text-Embedding-ada-002 model. The new pricing is set at $0.00002 per 1,000 tokens, down from $0.0001.
January 25, 2024 | 6:42 pm
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Microsoft, which has a partnership with OpenAI, may see increased usage of AI services due to the reduced pricing of OpenAI's Text-Embedding-3-Small model.
Microsoft's partnership with OpenAI suggests that any cost reduction in OpenAI's services could lead to increased adoption and usage, which may positively impact Microsoft's cloud services revenue. However, the direct financial impact on Microsoft may not be substantial in the short term, as it is one of many services offered.
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