Scaling laws state that the cross-entropy loss follows power laws in parameters N, data D and compute C:
L(N)∝N−α,
L(D)∝D−β,
L(C)∝C−γ, with α≈0.076 and β≈0.095. Kaplan's law argued parameters matter more; the Chinchilla law (2022) corrected this: data and parameters should scale together, with optimal data ≈ 20× parameters — a 70B model needs ~1.4T tokens, hence 'data beats parameters'. The LLaMA family was trained at exactly this ratio.