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In this video update, the speaker discusses the addition of the GPTJ model to Hugging Face a few weeks ago. They have updated the GPTJ Jupyter notebook and the repository for fine-tuning GPTJ on a custom dataset using GPUs. The notebook setup remains the same, but now GPTJ is officially part of the Hugging Face library. Refer to the original video for steps on setting up the environment and accessing the new GPTJ notebook features.