OpenAI's o3-mini: A Budget-Friendly LLM Powerhouse

OpenAI has released o3-mini, a new language model that excels in the Codeforces competitive programming benchmark, significantly outperforming GPT-4o and o1. While not universally superior across all metrics, its low price ($1.10/million input tokens, $4.40/million output tokens) and exceptionally high token output limit (100,000 tokens) make it highly competitive. OpenAI plans to integrate it into ChatGPT for web search and summarization, and support is already available in LLM 0.21, but currently limited to Tier 3 users (at least $100 spent on the API). o3-mini offers developers a powerful and cost-effective LLM option.