**News Flash: OpenAI Unveils Cost-Effective GPT-4o Mini**

OpenAI has just launched its latest generative AI model, GPT-4o mini, on July 18. This new model is designed to be significantly more affordable, boasting a cost reduction of over 60% compared to GPT-3.5 Turbo.

**Key Points:**

- **Affordability:** GPT-4o mini is an economical alternative to OpenAI's top-tier models.

- **Performance:** Despite its lower cost, the model maintains high performance, excelling in academic benchmarks and supporting multiple languages.

- **Functionality:** Currently, it handles text and vision tasks, with audio and video support on the horizon.

OpenAI's move comes amid ongoing developments and scrutiny, including potential SEC investigations and work on an advanced AI model named "Strawberry."