Creating a large language model (LLM) involves several key steps including gathering diverse and high-quality data for training, preprocessing the data to remove unnecessary information, applying tokenization and stemming, choosing the right architecture such as transformer-based models like GPT or BERT, training the LLM with powerful computing resources, fine-tuning it on specific tasks or domains, evaluating its performance using metrics like perplexity and accuracy, deploying it for use in applications, and continuously iterating and improving over time.