max tokens?

[GiganteX]

    self.llm = AzureOpenAI(
        deployment_name="text-davinci-003",
        model_name="text-davinci-003",
        temperature=0,
        max_tokens=1024,
    )

Does that max_tokens value mean that it only handles 1024 words?
So there is no point in having it analyze my 1 GB text document?