Nomic AI has announced the launch of Nomic Embed, the first open-source, reproducible, and auditable embedding model that outperforms OpenAI's Ada-002 and text-embedding-3-small. This model features a small parameter count and fast training speed, making it suitable for various NLP applications. For more detailed information, please refer to the [paper](https://static.nomic.ai/reports/2024_Nomic_Embed_Text_Technical_Report.pdf).