Cohere released Parse 5, a 2.3-billion-parameter vision language model designed to convert PDFs, slides, and images into structured Markdown. The model is priced at $1.50 per 1,000 pages, with discounts up to 61% via Model Vault for high-volume usage. On the ParseBench benchmark, Parse 5 scores an average of 79.2, outperforming Mistral OCR 4 (74.5) and LlamaParse Cost Effective (78.3). The model supports nine major commercial languages and integrates with Microsoft Foundry and AWS SageMaker. For a 13-million-page-per-month workflow, Cohere estimates savings of approximately $144,000.
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