About OpenAI
Founded 2015 ยท San Francisco, California, USA
OpenAI was founded in December 2015 by Sam Altman, Elon Musk, Greg Brockman, Ilya Sutskever, Wojciech Zaremba and John Schulman and restructured to a capped-profit company in 2019. The embedding line started with text-embedding-ada-001 (2021), was unified into ada-002 (December 2022) and replaced in January 2024 by the v3 generation. text-embedding-3-small is the smaller, cheaper sibling of text-embedding-3-large: it beats ada-002 by ~5 points on MTEB at one fifth the price ($0.00002 per 1k tokens). Together with the large variant it was the first OpenAI embedding model to support Matryoshka-style dimension shortening, allowing callers to choose any vector size between 256 and 1,536 without retraining or quality drop.
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