For about 1000 input tokens (and resulting 1000 output tokens), to my surprise, GPT-3.5 turbo was 100x cheaper than Llama 2.
Llama 7B wasn't up to the task fyi, producing very poor translations.
I believe that OpenAI priced GPT-3.5 aggressively cheap in order to make it a non-brainer to rely on them rather than relying on other vendors (even open source models).
I'm curious to see if others have gotten different results?
(Disclaimer: I work in the cloud organization at Microsoft, and these are totally my own thoughts and opinions and don't reflect any kind of inside knowledge I have. I think I can say that provisioning LLM capacity and GPU's is something we basically all have a tremendous amount of passion about.)