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Requirements vary by model. Small models (7B parameters) run on 8GB RAM. Medium models (13B) need 16GB. Large models (70B) need 32GB+ RAM. GPU acceleration significantly improves speed - Ollama supports NVIDIA CUDA and Apple Silicon.
Yes, Ollama is completely free and open source (MIT license). You download models directly and run them locally. There are no API fees or subscriptions - you only pay for your own hardware and electricity.
Ollama runs models locally, so it's free (no per-token costs), private (data never leaves your machine), and works offline. The trade-off is you need capable hardware, and local models may be less capable than GPT-4. For many tasks, local models are sufficient.
Yes! Ollama provides an OpenAI-compatible API endpoint. You can often just change the base URL in your code from OpenAI to http://localhost:11434 and it works. Libraries like LangChain and LlamaIndex support Ollama directly.
Source: ollama.ai