I do believe it is a language model, and not a repository of pure fact, but it remembers context, because it is designed for conversation. It is augmented to remember things that you have talked about, thus, your current talking points/interests.
For example: you talk about philosophers. Then you refer to them as "they". From then on, it will remember the context whenever you refer to philosophers as "they". When pressed, it will repeat your mantra of "I am just a language model, I can't possibly remember context" while it clearly does, either by design or emergence.