Earlier quoted context omitted.
gpt3.5 turbo is (mostly likely) Curie which is (most likely) 6.7b params. So, yeah, makes perfect sense that it can't compete with a 70b model on cost.
I thought it was fairly well established that GPT 3.5 has something like 130B parameters and that GPT 4 is on the order of 600-1,000
- gpt-3.5 175b params
- gpt-4 1800b params