OpenAI logo is seen near computer motherboard in this illustration taken January 8, 2024. (REUTERS/Dado Ruvic/Illustration/File Photo)

Priced at 15 cents per million input tokens and 60 cents per million output tokens, the GPT-4o mini is more than 60% cheaper than GPT-3.5 Turbo, OpenAI said.

It currently outperforms the GPT-4 model on chat preferences and scored 82% on Massive Multitask Language Understanding (MMLU), OpenAI said.

MMLU is a textual intelligence and reasoning benchmark used to evaluate the capabilities of language models. A higher MMLU score signifies it can understand and use language better across a variety of domains, enhancing real-world usage.