Alpaca is an instruction-finetuned LLM based off of LLaMA.
The first of many instruct-finetuned versions of LLaMA, Alpaca is an instruction-following model introduced by Stanford researchers. Impressively, with only $600 of compute spend, the researchers demonstrated that on qualitative benchmarks Alpaca performed similarly to OpenAI's text-davinci-003, a significantly larger model.
Guanaco is an LLM based off the QLoRA 4-bit finetuning method developed by Tim Dettmers et. al. in the UW NLP group. Guanaco achieves 99% ChatGPT performance on the Vicuna benchmark.
Guanaco is an LLM that uses a finetuning method called LoRA that was developed by Tim Dettmers et. al. in the UW NLP group. With QLoRA, it becomes possible to finetune up to a 65B parameter model on a 48GB GPU without loss of performance relative to a 16-bit model. The Guanaco model family outperforms all previously released models on the Vicuna benchmark. However, given the models are based off of the LLaMA model family, commercial use is not permitted.
Further reading