I'm running a 400B parameter model at FP8 and it still took a lot of post-training to get an even somewhat comparable performance
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I think a lot of people implicitly bake in some grace because the models are open weights, and that's not unreasonable because of the flexibility... but in terms of raw performance it's not even close.
GPT-3.5 has better world knowledge than some 70B models, and a few even larger.