Human innovation in language, such as inventing new words, is a challenge for pretrained language models. We assess the ability of one large model, GPT-3, to process new words and decide on their meaning. We create a set of nonce words and prompt GPT-3 to generate their dictionary definitions. We find GPT-3 produces plausible definitions that align with human judgments. Moreover, GPT-3's definitions are sometimes preferred to those invented by humans, signaling its intriguing ability not just to adapt, but to add to the evolving vocabulary of the English language.