pplx-embed-v2-late Technical Report

Multimodal retrieval and classification across different types of media, spanning text, images,video and audio, has traditionally relied on dual-encoder models that align visual and textual representations through contrastive learning. The March 2026 release of Gemini Embedding 2, Google's first natively multimodal embedding model to map text, images, video, audio, and documents into a single shared space, raises competition among multimodal retrieval systems. Simultaneously, frontier Large language models (LLMs) have also demonstrated strong visual understanding, raising the question of whether they can serve as effective zero-shot rankers. Our study provides the first direct comparison of native multimodal embeddings against LLM-based visual ranking on Flickr30k. We observe that GPT-4.1 and Claude Sonnet 4.6 perform on par with Gemini Embedding 2. Additionally, once embeddings are precomputed, multimodal embeddings are better suited for low-latency applications.

Universal multimodal embedding (UME) maps heterogeneous inputs into a shared retrieval space with a single model. Recent approaches improve UME by generating explicit chain-of-thought (CoT) rationales before extracting embeddings, enabling multimodal large language models to better infer complex query intent. However, explicit CoT incurs substantial inference overhead and can compress rich multimodal evidence into a narrow textual bottleneck. We propose PLUME, a latent reasoning framework that advances UME by replacing verbalized CoT with a short autoregressive rollout of continuous latent states. To support diverse multimodal queries, PLUME further introduces a semantic-anchor-guided transition adapter that steers latent rollout along different reasoning trajectories under the same fixed computation budget. To stabilize training, PLUME adopts a progressive explicit-to-latent curriculum that uses verbalized reasoning only as a temporary training scaffold and gradually transfers this behavior into hidden-state computation, eliminating explicit CoT at inference. On the 78-task MMEB-v2 benchmark, PLUME outperforms strong explicit-CoT UME baselines while reducing reasoning from hundreds of generated tokens to fewer than 10 latent steps, delivering over 30x faster inference. PLUME is especially well suited to retrieval settings where relevant evidence is dense, structurally complex, and difficult to organize through verbalized intermediate rationales, such as video and visual document retrieval. These results show that structured latent computation can preserve the benefits of intermediate reasoning without the overhead of explicit rationale generation, providing a stronger and more efficient paradigm for practical retrieval systems.

We introduce Giga-Embeddings, a family of text embedding models designed to combine strong retrieval quality with efficient serving. Its largest member is a sparse 10B-parameter Mixture-of-Experts encoder with approximately 1.8B active parameters per token. Across English, Russian, multilingual, and code MTEB benchmarks, this model achieves the strongest aggregate performance within the family on all four evaluated suites. In our vLLM benchmark with 1024-token inputs, it processes 114.5k tokens per second, providing 25 percent higher throughput than the dense 3B model and 1.56-2.65x the throughput of the evaluated external systems. The family also includes a dense 3B encoder and a distilled 480M encoder for tighter compute and memory budgets. We train the compact model using a dimension-agnostic objective that aligns teacher and student similarity distributions. The resulting 480M model scores 70.98 on Russian MTEB, surpassing FRIDA while using 42 percent fewer parameters. We release all three model checkpoints.