OpenAI has released its new O3 model which demonstrates significantly improved performance in reasoning, coding, and mathematical problem-solving compared to its previous models. The O3 model achieves 75.7% on the ARC Prize Semi-Private Evaluation in low-compute mode and an impressive 87.5% in high-compute mode. However, this performance comes at a very high cost, with the top-end system costing around $10,000 per task which makes it very expensive to run.