I believe there are some tricks for cutting down the VRAM requirements a bit by dropping precision at different points, but the gist is that these big text models are actually quite a bit more resource intensive than the image models.
Image models of the same size as GPT-3 should be much more impressive, the difference will probably be quite large like the difference between GPT-2 and GPT-3.
Ask SD to write a step by step guide to do something and it will create an image that looks kinda like some instructions, but the contents will be nonsense.
An image model of the size of GPT-3 could probably do this task quite well in many cases.
Image models needs much better language understanding to get to the next level also though, so probably multimodal models may make more sense. Maybe feeding web pages rendered as images to an image model could give interesting results.
https://huggingface.co/google/flan-t5-xxl?text=Translate+to+...
They are much less powerful that GPT-3, but they can still be fun for simple text generation or NLP tasks. You can play around with one of the smaller GPT-Neo models that should fit in RAM if run locally here:
https://huggingface.co/EleutherAI/gpt-neo-1.3B
That page includes instructions to run this locally in Python.
As others mentioned, there are larger models available, but they tend to be expensive to setup and use as an individual.
However, running it locally requires 8 A6000 GPUs. The GPU cost alone is roughly $37K.
Also, there is the concern of performance. The Chinchilla[1] paper indicates that most model sizes trained so far received too little token training (or were too big) to reach an optimal performance per energy expenditure. Furthermore, the InstructGPT[2] and more recently Flan[3] papers show that various finetuning techniques achieve significant gains, without which the result is a bit meh.
The dark secret of GPT-3 is that the model available on the OpenAI website is heavily fine-tuned, even compared to the InstructGPT paper.
[0]: https://huggingface.co/bigscience/bloom
[1]: https://arxiv.org/abs/2203.15556