A language model assigns probabilities to sequences of tokens, usually through the conditional probability of each token given the ones before it, ; it generates text by sampling one token at a time. A large language model (LLM) is a transformer language model (chapter 8) with billions of parameters, pre-trained (chapter 10) on a large share of the public text of the internet and books, then fine-tuned to follow instructions.
Quantitative Finance · Glossaire
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