In our experiments with the T5 3B model, using the  transformer wrapping policy resulted in >2x higher throughput measured in TFLOPS versus the default wrapping policy. Activation checkpointing resulted in 10x improvement by reinvesting the freed memory from the checkpoints into larger batch size. Mixed precision with BFloat16 resulted in ~5x improvement versus FP32 and finally the full sharding strategy versus zero2 (DDP)  resulted in 1.5x improvement.