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AI models · updated 1 Nov 2026

AI model comparison: prices, quality and speed of every major model

109 current models from 17 labs, across text, image, video, voice and embeddings. Tell the finder your task, priorities and must-haves and it shortlists the five best fits, with the reason for each and the trade-offs. Prices come from each lab's own pricing page. Quality and speed come from one independent source, Artificial Analysis, so models are measured the same way. Nothing is estimated: a dash means not published. For tools built on these models, see the AI agent finder.

109

models compared

17

labs

27

with open weights

85

with a published token price

Key takeaways

  • Highest independent quality scores: Claude Opus 5.5 (58), GPT-6 Astra (57), GPT-6.1 Sol (55), on the Artificial Analysis Intelligence Index.
  • Cheapest scored text model: MiMo-V2.6-Flash at US$0.14 in and US$0.28 out per 1M tokens.
  • 27 of the 109 models have open weights you can run yourself.
  • Most 2026 models accept about 1M tokens of context, so price and quality usually decide.

Model Finder

What is the job?

Shortlist for coding

57 of 109 models match. Filtered out: 6 for limited access (tick Include preview and limited), 15 for your constraints. Weights: quality 4, price 1, speed 1, context 1.

  1. 1

    Gemini 4 Argon at medium

    Google · Text

    Quality98Price47Speed36Context100

    Why: Strong on quality and context: Artificial Analysis index 50, 1.05M token context.

    Which level: medium (the default). Google documents the levels low, medium, high but publishes no per-level advice. ai.google.dev (opens in a new tab)

    • Index measured at the high setting, not at medium.
    • Speed measured at the high setting, not at medium.
    • Price change scheduled: Introductory to 30 Nov 2026. US$4 from 1 Dec.
    • Price doubles on 1 Dec 2026.

    US$2 in / US$10 out per 1M ai.google.dev (opens in a new tab) · about US$200.00 a month at your volume

  2. 2

    Claude Opus 5.5 at medium

    Anthropic · Text

    Quality94Price36Speed35Context98

    Why: Strong on quality and context: Artificial Analysis index 48, 1M token context.

    Which level: medium (the default). Anthropic: Balanced. Agentic tasks that need a balance of speed, cost and performance. platform.claude.com (opens in a new tab)

    • Weaker on speed: 80 output tokens a second.
    • Anthropic says its current tokenizer produces about 30% more tokens for the same text than Claude Sonnet 4.6 and earlier.

    US$4 in / US$20 out per 1M docs.anthropic.com (opens in a new tab) · about US$400.00 a month at your volume

  3. 3

    GPT-6 Astra at medium

    OpenAI · Text

    Quality100Price20Speed22Context100

    Why: Strong on quality and context: Artificial Analysis index 51, 1.05M token context.

    Which level: medium. OpenAI: When quality and reliability matter. The default for most workloads and a balanced point for latency, performance and cost. developers.openai.com (opens in a new tab)

    • Weaker on price: US$16.67 per 1M tokens at your mix.
    • Highest list price on this page among generally available text models.

    US$10 in / US$50 out per 1M developers.openai.com (opens in a new tab) · about US$1000.00 a month at your volume

  4. 4

    Muse Wonder at medium

    Meta · Text · Preview

    Quality83Price36Speed56Context100

    Why: Strong on quality and context: Artificial Analysis index 43, 1.05M token context.

    Which level: medium. Meta: Moderate depth. dev.meta.ai (opens in a new tab)

    • Index measured at the max setting, not at medium.
    • Speed measured at the max setting, not at medium.
    • Preview: Meta says Muse Wonder is in preview.
    • Preview.

    US$4 in / US$20 out per 1M dev.meta.ai (opens in a new tab) · about US$400.00 a month at your volume

  5. 5

    GPT-6.1 Sol at medium

    OpenAI · Text

    Quality89Price47Speed18Context100

    Why: Strong on quality and context: Artificial Analysis index 46, 1.05M token context.

    Which level: medium (the default). OpenAI: When quality and reliability matter. The default for most workloads and a balanced point for latency, performance and cost. developers.openai.com (opens in a new tab)

    • Weaker on speed: 50 output tokens a second.
    • No audio or video input.

    US$2 in / US$10 out per 1M developers.openai.com (opens in a new tab) · about US$200.00 a month at your volume

How the fit score works

1. Filters first: the task sets the model type and required features, then your constraints, context and budget. 2. For the models left, each measure is scaled from 0 to 100 against the others in the running: quality is the Artificial Analysis Intelligence Index, price is the blended price per 1M tokens at your input and output mix (lower is better, log scale), speed is output tokens a second from Artificial Analysis (log scale), context is the context window (log scale). 3. Fit is the weighted average, using the weights shown. A missing figure scores zero and is flagged, so a gap never helps. "EU-based lab or open weights" means the lab is headquartered in the EU, or you can run the weights yourself. Figures checked 1 Nov 2026. This is arithmetic on published figures, not a recommendation.

Compare up to 4 models

Pick two to four models, here or with the Compare box on any result card or table row.

All 109 models

109 shown
Compare
LimitedGoogleText2 blog.google (opens in a new tab)10 blog.google (opens in a new tab)–59 artificialanalysis.ai (opens in a new tab)85 artificialanalysis.ai (opens in a new tab)Closed28 Oct 2026
AnthropicText4 docs.anthropic.com (opens in a new tab)20 docs.anthropic.com (opens in a new tab)1M docs.anthropic.com (opens in a new tab)58 artificialanalysis.ai (opens in a new tab)97 artificialanalysis.ai (opens in a new tab)Closed22 Sep 2026
OpenAIText10 developers.openai.com (opens in a new tab)50 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)57 artificialanalysis.ai (opens in a new tab)78 artificialanalysis.ai (opens in a new tab)Closed4 Sep 2026
OpenAIText2 developers.openai.com (opens in a new tab)10 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)55 artificialanalysis.ai (opens in a new tab)79 artificialanalysis.ai (opens in a new tab)Closed29 Sep 2026
AnthropicText2 docs.anthropic.com (opens in a new tab)10 docs.anthropic.com (opens in a new tab)1M docs.anthropic.com (opens in a new tab)54 artificialanalysis.ai (opens in a new tab)139 artificialanalysis.ai (opens in a new tab)Closed28 Sep 2026
OpenAIText1 developers.openai.com (opens in a new tab)5 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)51 artificialanalysis.ai (opens in a new tab)97 artificialanalysis.ai (opens in a new tab)Closed26 Oct 2026
AnthropicText10 docs.anthropic.com (opens in a new tab)50 docs.anthropic.com (opens in a new tab)1M docs.anthropic.com (opens in a new tab)50 artificialanalysis.ai (opens in a new tab)62 artificialanalysis.ai (opens in a new tab)Closed1 Sep 2026
GoogleText2 ai.google.dev (opens in a new tab)10 ai.google.dev (opens in a new tab)1.05M ai.google.dev (opens in a new tab)50 artificialanalysis.ai (opens in a new tab)83 artificialanalysis.ai (opens in a new tab)Closed13 Oct 2026
MoonshotText2 platform.kimi.ai (opens in a new tab)10 platform.kimi.ai (opens in a new tab)1.05M platform.kimi.ai (opens in a new tab)46 artificialanalysis.ai (opens in a new tab)31 artificialanalysis.ai (opens in a new tab)Announced23 Oct 2026
PreviewMetaText4 dev.meta.ai (opens in a new tab)20 dev.meta.ai (opens in a new tab)1.05M dev.meta.ai (opens in a new tab)43 artificialanalysis.ai (opens in a new tab)143 artificialanalysis.ai (opens in a new tab)Closed12 Oct 2026
AnthropicText0.1 docs.anthropic.com (opens in a new tab)0.5 docs.anthropic.com (opens in a new tab)1M docs.anthropic.com (opens in a new tab)36 artificialanalysis.ai (opens in a new tab)235 artificialanalysis.ai (opens in a new tab)Closed7 Oct 2026
xAIText2 docs.x.ai (opens in a new tab)6 docs.x.ai (opens in a new tab)500K docs.x.ai (opens in a new tab)35 artificialanalysis.ai (opens in a new tab)78 artificialanalysis.ai (opens in a new tab)Closed21 Sep 2026
AlibabaText2 qwencloud.com (opens in a new tab)6 qwencloud.com (opens in a new tab)1M qwencloud.com (opens in a new tab)34 artificialanalysis.ai (opens in a new tab)40 artificialanalysis.ai (opens in a new tab)Open3 Aug 2026
DeepSeekText0.3 api-docs.deepseek.com (opens in a new tab)1.2 api-docs.deepseek.com (opens in a new tab)1M api-docs.deepseek.com (opens in a new tab)32 artificialanalysis.ai (opens in a new tab)175 artificialanalysis.ai (opens in a new tab)Open17 Oct 2026
Z.aiText1.4 docs.z.ai (opens in a new tab)4.4 docs.z.ai (opens in a new tab)1M models.dev (opens in a new tab)32 artificialanalysis.ai (opens in a new tab)76 artificialanalysis.ai (opens in a new tab)Open14 Aug 2026
GoogleText0.75 ai.google.dev (opens in a new tab)3.75 ai.google.dev (opens in a new tab)1.05M ai.google.dev (opens in a new tab)31 artificialanalysis.ai (opens in a new tab)120 artificialanalysis.ai (opens in a new tab)Closed2 Sep 2026
XiaomiText0.435 platform.xiaomimimo.com (opens in a new tab)0.87 platform.xiaomimimo.com (opens in a new tab)1.05M models.dev (opens in a new tab)30 artificialanalysis.ai (opens in a new tab)49 artificialanalysis.ai (opens in a new tab)Open22 Sep 2026
MiniMaxText0.15 platform.minimax.io (opens in a new tab)0.6 platform.minimax.io (opens in a new tab)1M minimax.io (opens in a new tab)29 artificialanalysis.ai (opens in a new tab)119 artificialanalysis.ai (opens in a new tab)Open19 Oct 2026
PreviewStepFunText1 platform.stepfun.ai (opens in a new tab)2.7 platform.stepfun.ai (opens in a new tab)1M models.dev (opens in a new tab)29 artificialanalysis.ai (opens in a new tab)165 artificialanalysis.ai (opens in a new tab)Open16 Sep 2026
OpenAIText0.1 developers.openai.com (opens in a new tab)0.5 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)28 artificialanalysis.ai (opens in a new tab)118 artificialanalysis.ai (opens in a new tab)Closed22 Sep 2026
Z.aiText0.15 docs.z.ai (opens in a new tab)0.5 docs.z.ai (opens in a new tab)1M models.dev (opens in a new tab)28 artificialanalysis.ai (opens in a new tab)69 artificialanalysis.ai (opens in a new tab)Open26 Aug 2026
XiaomiText0.14 platform.xiaomimimo.com (opens in a new tab)0.28 platform.xiaomimimo.com (opens in a new tab)–27 artificialanalysis.ai (opens in a new tab)45 artificialanalysis.ai (opens in a new tab)––
MistralText0.7 docs.mistral.ai (opens in a new tab)2.1 docs.mistral.ai (opens in a new tab)1.05M models.dev (opens in a new tab)26 artificialanalysis.ai (opens in a new tab)161 artificialanalysis.ai (opens in a new tab)Open6 Oct 2026
MetaText––1.05M models.dev (opens in a new tab)25 artificialanalysis.ai (opens in a new tab)139 artificialanalysis.ai (opens in a new tab)Open15 Oct 2026
DeepSeekText1.32 api-docs.deepseek.com (opens in a new tab)3.96 api-docs.deepseek.com (opens in a new tab)1M api-docs.deepseek.com (opens in a new tab)23 artificialanalysis.ai (opens in a new tab)81 artificialanalysis.ai (opens in a new tab)Open13 Aug 2026
AlibabaText––262K models.dev (opens in a new tab)20 artificialanalysis.ai (opens in a new tab)38 artificialanalysis.ai (opens in a new tab)Open14 Aug 2026
MiniMaxText0.3 platform.minimax.io (opens in a new tab)1.2 platform.minimax.io (opens in a new tab)1M models.dev (opens in a new tab)19 artificialanalysis.ai (opens in a new tab)106 artificialanalysis.ai (opens in a new tab)Open1 Jun 2026
NVIDIAText––1.05M models.dev (opens in a new tab)14 artificialanalysis.ai (opens in a new tab)474 artificialanalysis.ai (opens in a new tab)Open15 Oct 2026
GoogleText0.3 ai.google.dev (opens in a new tab)2.5 ai.google.dev (opens in a new tab)1.05M ai.google.dev (opens in a new tab)12 artificialanalysis.ai (opens in a new tab)406 artificialanalysis.ai (opens in a new tab)Closed21 Jul 2026
NVIDIAText––262K artificialanalysis.ai (opens in a new tab)12 artificialanalysis.ai (opens in a new tab)153 artificialanalysis.ai (opens in a new tab)Open4 Jun 2026
MetaText––131K models.dev (opens in a new tab)6 artificialanalysis.ai (opens in a new tab)106 artificialanalysis.ai (opens in a new tab)Open10 Aug 2026
CohereText––128K cohere.com (opens in a new tab)6 artificialanalysis.ai (opens in a new tab)148 artificialanalysis.ai (opens in a new tab)Open20 May 2026
MistralText0.15 docs.mistral.ai (opens in a new tab)0.6 docs.mistral.ai (opens in a new tab)262K docs.mistral.ai (opens in a new tab)4 artificialanalysis.ai (opens in a new tab)172 artificialanalysis.ai (opens in a new tab)Open16 Mar 2026
AmazonText––1M aws.amazon.com (opens in a new tab)–183 artificialanalysis.ai (opens in a new tab)Closed2 Dec 2025
AmazonVoice3 aws.amazon.com (opens in a new tab)12 aws.amazon.com (opens in a new tab)–––Closed–
AmazonVoice3 aws.amazon.com (opens in a new tab)12 aws.amazon.com (opens in a new tab)–––Closed5 Oct 2026
LimitedAnthropicText10 docs.anthropic.com (opens in a new tab)50 docs.anthropic.com (opens in a new tab)–––Closed–
GoogleText0.3 ai.google.dev (opens in a new tab)2.5 ai.google.dev (opens in a new tab)–––Closed–
GoogleText0.1 ai.google.dev (opens in a new tab)0.4 ai.google.dev (opens in a new tab)–––Closed–
GoogleText1.25 ai.google.dev (opens in a new tab)10 ai.google.dev (opens in a new tab)–––Closed–
GoogleImage2 ai.google.dev (opens in a new tab)120 ai.google.dev (opens in a new tab)–––Closed–
GoogleImage0.5 ai.google.dev (opens in a new tab)60 ai.google.dev (opens in a new tab)–––Closed–
GoogleText0.25 ai.google.dev (opens in a new tab)1.5 ai.google.dev (opens in a new tab)–––Closed–
PreviewGoogleText2 ai.google.dev (opens in a new tab)12 ai.google.dev (opens in a new tab)–––Closed–
GoogleVoice2 ai.google.dev (opens in a new tab)12 ai.google.dev (opens in a new tab)–––Closed–
GoogleVoice3.5 ai.google.dev (opens in a new tab)21 ai.google.dev (opens in a new tab)–––Closed–
GoogleText0.75 ai.google.dev (opens in a new tab)3.75 ai.google.dev (opens in a new tab)–––Closed–
GoogleVoice0.5 ai.google.dev (opens in a new tab)9 ai.google.dev (opens in a new tab)–––Closed–
GoogleVoice3 ai.google.dev (opens in a new tab)12 ai.google.dev (opens in a new tab)–––Closed–
GoogleEmbedding0.2 ai.google.dev (opens in a new tab)–8K models.dev (opens in a new tab)––Closed22 Apr 2026
GoogleVideo1.5 ai.google.dev (opens in a new tab)17.5 ai.google.dev (opens in a new tab)–––Closed–
GoogleText––262K models.dev (opens in a new tab)–35 artificialanalysis.ai (opens in a new tab)Open2 Apr 2026
Z.aiText0.37 docs.z.ai (opens in a new tab)1.25 docs.z.ai (opens in a new tab)–––––
Z.aiImage–––––––
OpenAIImage5 developers.openai.com (opens in a new tab)30 developers.openai.com (opens in a new tab)–––Closed–
OpenAIImage5 developers.openai.com (opens in a new tab)30 developers.openai.com (opens in a new tab)–––Closed–
OpenAIImage5 developers.openai.com (opens in a new tab)30 developers.openai.com (opens in a new tab)–––Closed–
OpenAIVoice–––––Closed–
OpenAIVoice–––––Closed–
OpenAIVoice–––––Closed–
OpenAIVoice–––––Closed–
OpenAIText1.75 developers.openai.com (opens in a new tab)14 developers.openai.com (opens in a new tab)400K developers.openai.com (opens in a new tab)––Closed–
OpenAIText2.5 developers.openai.com (opens in a new tab)15 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText0.75 developers.openai.com (opens in a new tab)4.5 developers.openai.com (opens in a new tab)400K developers.openai.com (opens in a new tab)––Closed–
OpenAIText0.2 developers.openai.com (opens in a new tab)1.25 developers.openai.com (opens in a new tab)400K developers.openai.com (opens in a new tab)––Closed–
OpenAIText30 developers.openai.com (opens in a new tab)180 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText5 developers.openai.com (opens in a new tab)30 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText30 developers.openai.com (opens in a new tab)180 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
LimitedOpenAIText12.5 developers.openai.com (opens in a new tab)75 developers.openai.com (opens in a new tab)400K developers.openai.com (opens in a new tab)––Closed–
OpenAIText0.2 developers.openai.com (opens in a new tab)1.2 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText4 developers.openai.com (opens in a new tab)20 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText2 developers.openai.com (opens in a new tab)12 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText2 developers.openai.com (opens in a new tab)10 developers.openai.com (opens in a new tab)1.05M developers.openai.com (opens in a new tab)––Closed–
OpenAIText––131K developers.openai.com (opens in a new tab)–206 artificialanalysis.ai (opens in a new tab)Open5 Aug 2025
OpenAIText––131K developers.openai.com (opens in a new tab)–143 artificialanalysis.ai (opens in a new tab)Open5 Aug 2025
OpenAIVoice32 developers.openai.com (opens in a new tab)64 developers.openai.com (opens in a new tab)128K developers.openai.com (opens in a new tab)––Closed6 Jul 2026
OpenAIVoice10 developers.openai.com (opens in a new tab)20 developers.openai.com (opens in a new tab)128K developers.openai.com (opens in a new tab)––Closed–
xAIText1.25 docs.x.ai (opens in a new tab)2.5 docs.x.ai (opens in a new tab)1M docs.x.ai (opens in a new tab)––Closed–
xAIText1.25 docs.x.ai (opens in a new tab)2.5 docs.x.ai (opens in a new tab)1M docs.x.ai (opens in a new tab)––Closed–
xAIText1.25 docs.x.ai (opens in a new tab)2.5 docs.x.ai (opens in a new tab)1M docs.x.ai (opens in a new tab)––Closed–
xAIText2 docs.x.ai (opens in a new tab)6 docs.x.ai (opens in a new tab)500K docs.x.ai (opens in a new tab)––Closed–
xAIText2 docs.x.ai (opens in a new tab)6 docs.x.ai (opens in a new tab)500K docs.x.ai (opens in a new tab)––Closed–
xAIText1 docs.x.ai (opens in a new tab)2 docs.x.ai (opens in a new tab)256K docs.x.ai (opens in a new tab)––Closed–
xAIImage–––––Closed28 Jan 2026
xAIImage–––––Closed–
xAIVideo–––––Closed30 May 2026
xAIVoice–––––Closed–
RetiringMoonshotText0.95 platform.kimi.ai (opens in a new tab)4 platform.kimi.ai (opens in a new tab)–––––
RetiringMoonshotText0.95 platform.kimi.ai (opens in a new tab)4 platform.kimi.ai (opens in a new tab)–––––
RetiringMoonshotText1.9 platform.kimi.ai (opens in a new tab)8 platform.kimi.ai (opens in a new tab)–––––
MoonshotText3 platform.kimi.ai (opens in a new tab)15 platform.kimi.ai (opens in a new tab)1.05M platform.kimi.ai (opens in a new tab)––Open16 Jul 2026
MoonshotText4 platform.kimi.ai (opens in a new tab)20 platform.kimi.ai (opens in a new tab)1.05M platform.kimi.ai (opens in a new tab)––Announced–
XiaomiVoice–––––––
XiaomiText4.35 platform.xiaomimimo.com (opens in a new tab)8.7 platform.xiaomimimo.com (opens in a new tab)–––Open–
MistralText0.2 docs.mistral.ai (opens in a new tab)0.2 docs.mistral.ai (opens in a new tab)–––Open–
MistralText0.1 docs.mistral.ai (opens in a new tab)0.1 docs.mistral.ai (opens in a new tab)–––Open–
MistralText0.15 docs.mistral.ai (opens in a new tab)0.15 docs.mistral.ai (opens in a new tab)262K models.dev (opens in a new tab)–91 artificialanalysis.ai (opens in a new tab)Open2 Dec 2025
MetaText1.25 dev.meta.ai (opens in a new tab)4.25 dev.meta.ai (opens in a new tab)1.05M dev.meta.ai (opens in a new tab)––Closed2 Sep 2026
GoogleImage1.5 ai.google.dev (opens in a new tab)30 ai.google.dev (opens in a new tab)131K ai.google.dev (opens in a new tab)––Closed–
MicrosoftText––16K artificialanalysis.ai (opens in a new tab)–41 artificialanalysis.ai (opens in a new tab)Open11 Dec 2024
MicrosoftText––16K huggingface.co (opens in a new tab)––Open4 Mar 2026
AlibabaText0.15 qwencloud.com (opens in a new tab)0.47 qwencloud.com (opens in a new tab)1M qwencloud.com (opens in a new tab)––Closed26 Aug 2026
StepFunText0.1 platform.stepfun.ai (opens in a new tab)0.3 platform.stepfun.ai (opens in a new tab)–––––
StepFunText0.2 platform.stepfun.ai (opens in a new tab)1.15 platform.stepfun.ai (opens in a new tab)–––––
StepFunVoice1.5 platform.stepfun.ai (opens in a new tab)10 platform.stepfun.ai (opens in a new tab)–––––
OpenAIEmbedding0.13 developers.openai.com (opens in a new tab)––––Closed25 Jan 2024
OpenAIEmbedding0.02 developers.openai.com (opens in a new tab)––––Closed25 Jan 2024
MistralVoice–––––Closed–
MistralVoice–––––Closed–

A dash means the figure is not published on the sources we checked, so we leave it blank rather than estimate. Click a model name for its full sourced profile.

Quadrant charts: what you get for the price

Generally available text models with published figures. Dashed lines mark the median, so the top left of each chart is above-median results for below-median price. Hover or tap a dot for its source.

Quality against price

Quality: Artificial Analysis Intelligence Index v5.0 at each model's best tested setting.

Show the data as a table
ModelIndexBlended US$/1M
GPT-6 Astra5720.000
GPT-6.1 Sol554.000
GPT-6.1 Terra512.000
GPT-6 Luna280.200
Claude Fable 5.15020.000
Claude Opus 5.5588.000
Claude Sonnet 5.5544.000
Claude Haiku 5.5360.200
Gemini 4 Argon504.000
Gemini 3.8 Flash311.500
Gemini 3.5 Flash-Lite120.850
Grok 4.7353.000
Muse Wonder438.000
Mistral Large 4261.050
Mistral Small 440.262
DeepSeek V4.1 Flash 1017320.525
DeepSeek V4 Pro231.980
Qwen3.8-Max343.000
Kimi K3.1 Pro464.000
GLM-5.3322.150
GLM-5.3-Flash280.237
MiniMax M3.1 Flash290.262
MiniMax M3190.525
MiMo-V2.6-Pro300.544
MiMo-V2.6-Flash270.175
Step 5 Preview291.425
Speed against price

Speed: output tokens a second measured by Artificial Analysis at the same setting as the index.

Show the data as a table
ModelTokens/sBlended US$/1M
GPT-6 Astra7820.000
GPT-6.1 Sol794.000
GPT-6.1 Terra972.000
GPT-6 Luna1180.200
Claude Fable 5.16220.000
Claude Opus 5.5978.000
Claude Sonnet 5.51394.000
Claude Haiku 5.52350.200
Gemini 4 Argon834.000
Gemini 3.8 Flash1201.500
Gemini 3.5 Flash-Lite4060.850
Grok 4.7783.000
Muse Wonder1438.000
Mistral Large 41611.050
Mistral Small 41720.262
Ministral 3 8B910.150
DeepSeek V4.1 Flash 10171750.525
DeepSeek V4 Pro811.980
Qwen3.8-Max403.000
Kimi K3.1 Pro314.000
GLM-5.3762.150
GLM-5.3-Flash690.237
MiniMax M3.1 Flash1190.262
MiniMax M31060.525
MiMo-V2.6-Pro490.544
MiMo-V2.6-Flash450.175
Step 5 Preview1651.425
Context window against input price

Most 2026 models offer about 1M tokens, so context rarely separates them. Price decides.

Show the data as a table
ModelInput US$/1MContext
GPT-6 Astra101.05M
GPT-6.1 Sol21.05M
GPT-6 Sol21.05M
GPT-6.1 Terra11.05M
GPT-6 Luna0.11.05M
GPT-5.6 Sol41.05M
GPT-5.6 Terra21.05M
GPT-5.6 Luna0.21.05M
GPT-5.551.05M
GPT-5.5 Pro301.05M
GPT-5.42.51.05M
GPT-5.4 Pro301.05M
GPT-5.4 mini0.75400K
GPT-5.4 nano0.2400K
GPT-5.3-Codex1.75400K
Claude Fable 5.1101M
Claude Opus 5.541M
Claude Sonnet 5.521M
Claude Haiku 5.50.11M
Gemini 4 Argon21.05M
Gemini 3.8 Flash0.751.05M
Gemini 3.5 Flash-Lite0.31.05M
Grok 4.72500K
Grok 4.62500K
Grok 4.52500K
Grok 4.31.251M
Grok 4.201.251M
Grok 4.20 Multi-Agent (beta)1.251M
Grok Build 0.11256K
Muse Wonder41.05M
Muse Spark 1.31.251.05M
Mistral Large 40.71.05M
Mistral Small 40.15262K
Ministral 3 8B0.15262K
DeepSeek V4.1 Flash 10170.31M
DeepSeek V4 Pro1.321M
Qwen3.8-Max21M
Qwen3.8-Flash0.151M
Kimi K3.1 Pro21.05M
Kimi K3.1 Pro Highspeed41.05M
Kimi K331.05M
GLM-5.31.41M
GLM-5.3-Flash0.151M
MiniMax M3.1 Flash0.151M
MiniMax M30.31M
MiMo-V2.6-Pro0.4351.05M
Step 5 Preview11M

AI API pricing comparison: official prices per 1M tokens

26 generally available text models with an official token price and an independent quality score, cheapest first. Prices are each lab's standard list price in US dollars, checked 1 Nov 2026. Blended price weights three input tokens to one output token.

ModelLabInput per 1MOutput per 1MBlendedQuality indexContextPrice source
MiMo-V2.6-FlashXiaomiUS$0.14US$0.28US$0.1727–platform.xiaomimimo.com (opens in a new tab)
GPT-6 LunaOpenAIUS$0.1US$0.5US$0.2281.05Mdevelopers.openai.com (opens in a new tab)
Claude Haiku 5.5AnthropicUS$0.1US$0.5US$0.2361Mdocs.anthropic.com (opens in a new tab)
GLM-5.3-FlashZ.aiUS$0.15US$0.5US$0.24281Mdocs.z.ai (opens in a new tab)
Mistral Small 4MistralUS$0.15US$0.6US$0.264262Kdocs.mistral.ai (opens in a new tab)
MiniMax M3.1 FlashMiniMaxUS$0.15US$0.6US$0.26291Mplatform.minimax.io (opens in a new tab)
DeepSeek V4.1 Flash 1017DeepSeekUS$0.3US$1.2US$0.53321Mapi-docs.deepseek.com (opens in a new tab)
MiniMax M3MiniMaxUS$0.3US$1.2US$0.53191Mplatform.minimax.io (opens in a new tab)
MiMo-V2.6-ProXiaomiUS$0.43US$0.87US$0.54301.05Mplatform.xiaomimimo.com (opens in a new tab)
Gemini 3.5 Flash-LiteGoogleUS$0.3US$2.5US$0.85121.05Mai.google.dev (opens in a new tab)
Mistral Large 4MistralUS$0.7US$2.1US$1.05261.05Mdocs.mistral.ai (opens in a new tab)
Step 5 PreviewStepFunUS$1US$2.7US$1.425291Mplatform.stepfun.ai (opens in a new tab)
Gemini 3.8 FlashGoogleUS$0.75US$3.75US$1.5311.05Mai.google.dev (opens in a new tab)
DeepSeek V4 ProDeepSeekUS$1.32US$3.96US$1.98231Mapi-docs.deepseek.com (opens in a new tab)
GPT-6.1 TerraOpenAIUS$1US$5US$2511.05Mdevelopers.openai.com (opens in a new tab)
GLM-5.3Z.aiUS$1.4US$4.4US$2.15321Mdocs.z.ai (opens in a new tab)
Grok 4.7xAIUS$2US$6US$335500Kdocs.x.ai (opens in a new tab)
Qwen3.8-MaxAlibabaUS$2US$6US$3341Mqwencloud.com (opens in a new tab)
GPT-6.1 SolOpenAIUS$2US$10US$4551.05Mdevelopers.openai.com (opens in a new tab)
Claude Sonnet 5.5AnthropicUS$2US$10US$4541Mdocs.anthropic.com (opens in a new tab)
Gemini 4 ArgonGoogleUS$2US$10US$4501.05Mai.google.dev (opens in a new tab)
Kimi K3.1 ProMoonshotUS$2US$10US$4461.05Mplatform.kimi.ai (opens in a new tab)
Claude Opus 5.5AnthropicUS$4US$20US$8581Mdocs.anthropic.com (opens in a new tab)
Muse WonderMetaUS$4US$20US$8431.05Mdev.meta.ai (opens in a new tab)
GPT-6 AstraOpenAIUS$10US$50US$20571.05Mdevelopers.openai.com (opens in a new tab)
Claude Fable 5.1AnthropicUS$10US$50US$20501Mdocs.anthropic.com (opens in a new tab)

Quality index: Artificial Analysis Intelligence Index at each model's best tested setting. Long-context, batch and cached rates differ, see each model page.

ChatGPT vs Claude vs Gemini: the models compared

ChatGPT, Claude and Gemini are apps. Each runs on a family of models from its lab, OpenAI, Anthropic and Google. Below are the highest-scoring and the cheapest scored model from each, with official API prices.

AppTop scored modelIndexPrice in / out per 1MCheapest scored modelPrice in / out per 1M
ChatGPT (OpenAI)GPT-6 Astra57US$10 / US$50 developers.openai.com (opens in a new tab)GPT-6 LunaUS$0.1 / US$0.5 developers.openai.com (opens in a new tab)
Claude (Anthropic)Claude Opus 5.558US$4 / US$20 docs.anthropic.com (opens in a new tab)Claude Haiku 5.5US$0.1 / US$0.5 docs.anthropic.com (opens in a new tab)
Gemini (Google)Gemini 4 Argon50US$2 / US$10 ai.google.dev (opens in a new tab)Gemini 3.5 Flash-LiteUS$0.3 / US$2.5 ai.google.dev (opens in a new tab)

Index: Artificial Analysis Intelligence Index. App plan prices and limits are on each maker's pricing page. Chat assistants and their agents are compared in the agent finder.

Best AI models by independent quality score

The 10 highest-scoring text models on the Artificial Analysis Intelligence Index, with their list price. This is one independent measure of general capability, not a verdict for every job. For coding, compare the coding agents that use these models.

  1. Claude Opus 5.5 (Anthropic): index 58, US$4 in and US$20 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), docs.anthropic.com (opens in a new tab)
  2. GPT-6 Astra (OpenAI): index 57, US$10 in and US$50 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), developers.openai.com (opens in a new tab)
  3. GPT-6.1 Sol (OpenAI): index 55, US$2 in and US$10 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), developers.openai.com (opens in a new tab)
  4. Claude Sonnet 5.5 (Anthropic): index 54, US$2 in and US$10 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), docs.anthropic.com (opens in a new tab)
  5. GPT-6.1 Terra (OpenAI): index 51, US$1 in and US$5 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), developers.openai.com (opens in a new tab)
  6. Claude Fable 5.1 (Anthropic): index 50, US$10 in and US$50 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), docs.anthropic.com (opens in a new tab)
  7. Gemini 4 Argon (Google): index 50, US$2 in and US$10 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), ai.google.dev (opens in a new tab)
  8. Kimi K3.1 Pro (Moonshot): index 46, US$2 in and US$10 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), platform.kimi.ai (opens in a new tab)
  9. Muse Wonder (Meta): index 43, US$4 in and US$20 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), dev.meta.ai (opens in a new tab)
  10. Claude Haiku 5.5 (Anthropic): index 36, US$0.1 in and US$0.5 out per 1M tokens. Sources: artificialanalysis.ai (opens in a new tab), docs.anthropic.com (opens in a new tab)

At a glance, by category

Facts computed from the table, not a ranking. Limited-access models are left out. Prices for image, video and voice models are per token of that medium, so compare them only within a category.

Explainers

What the numbers mean, and why they matter for data centres
  1. Tokens

    Pieces of text a model reads and writes. Prices are per 1 million tokens.

    For data centres: Every token is GPU work in a data centre, so token volume tracks compute and power use.

  2. Context window

    How many tokens the model can hold in one request.

    For data centres: Long contexts need more accelerator memory and compute for each request.

  3. Input vs output price

    Reading your prompt and writing the answer are billed separately. Output usually costs more.

    For data centres: Output tokens are produced one at a time, so long answers keep accelerators busy for longer.

  4. Open vs closed weights

    Open weights can be downloaded and run on your own servers.

    For data centres: Self-hosting moves the power and cooling load into your own or a colocation facility.

  5. Benchmarks

    Test scores, usually published by the model maker. Settings vary.

    For data centres: Treat as claims. A higher score with many more tokens per task can mean more energy per task.

Plain-language explanations by CoolPower Index, not figures. For measured electricity use see the agents page and the IEA's Energy and AI report.

Where these figures come from
  • Prices: each lab's official pricing page, checked 1 Nov 2026. Standard short-context rates. Peak, long-context and scheduled changes are in each model's notes.
  • Quality and speed: Artificial Analysis leaderboard (opens in a new tab), checked 1 Nov 2026. Independent, one method for all models. Its index is one view of capability, so test on your own work.
  • Context, max output and features: the lab's model page. Where the lab page does not say, models.dev (opens in a new tab), an open public catalogue, and the cell links there.
  • Benchmarks published by labs are their own claims, with their own settings. They are listed below, not used in the fit score.

Cost calculator, every priced model

Enter a monthly token volume to see the list-price cost on each model with a published token price.

For scale: 1M tokens is roughly 750,000 English words, using MiniMax's published rule of thumb of about 750 words per 1,000 tokens. platform.minimax.io (opens in a new tab)

  1. Ministral 3 3BUS$12.00 docs.mistral.ai (opens in a new tab)
  2. Step 3.5 FlashUS$16.00 platform.stepfun.ai (opens in a new tab)
  3. Gemini 2.5 Flash-LiteUS$18.00 ai.google.dev (opens in a new tab)
  4. Ministral 3 8BUS$18.00 docs.mistral.ai (opens in a new tab)
  5. MiMo-V2.6-FlashUS$19.60 platform.xiaomimimo.com (opens in a new tab)
  6. GPT-6 LunaUS$20.00 developers.openai.com (opens in a new tab)
  7. Claude Haiku 5.5US$20.00 docs.anthropic.com (opens in a new tab)
  8. Ministral 3 14BUS$24.00 docs.mistral.ai (opens in a new tab)
  9. Qwen3.8-FlashUS$24.40 qwencloud.com (opens in a new tab)
  10. GLM-5.3-FlashUS$25.00 docs.z.ai (opens in a new tab)
  11. Mistral Small 4US$27.00 docs.mistral.ai (opens in a new tab)
  12. MiniMax M3.1 FlashUS$27.00 platform.minimax.io (opens in a new tab)
  13. Step 3.7 FlashUS$43.00 platform.stepfun.ai (opens in a new tab)
  14. GPT-5.6 LunaUS$44.00 developers.openai.com (opens in a new tab)
  15. GPT-5.4 nanoUS$45.00 developers.openai.com (opens in a new tab)
  16. DeepSeek V4.1 Flash 1017US$54.00 api-docs.deepseek.com (opens in a new tab)
  17. MiniMax M3US$54.00 platform.minimax.io (opens in a new tab)
  18. Gemini 3.1 Flash-LiteUS$55.00 ai.google.dev (opens in a new tab)
  19. MiMo-V2.6-ProUS$60.90 platform.xiaomimimo.com (opens in a new tab)
  20. GLM-5.3-FlashXUS$62.00 docs.z.ai (opens in a new tab)
  21. Gemini 3.5 Flash-LiteUS$80.00 ai.google.dev (opens in a new tab)
  22. Gemini 2.5 FlashUS$80.00 ai.google.dev (opens in a new tab)
  23. Mistral Large 4US$112.00 docs.mistral.ai (opens in a new tab)
  24. Grok Build 0.1US$140.00 docs.x.ai (opens in a new tab)
  25. Gemini 3.8 FlashUS$150.00 ai.google.dev (opens in a new tab)
  26. Gemini 3.6 FlashUS$150.00 ai.google.dev (opens in a new tab)
  27. Step 5 PreviewUS$154.00 platform.stepfun.ai (opens in a new tab)
  28. GPT-5.4 miniUS$165.00 developers.openai.com (opens in a new tab)
  29. Grok 4.3US$175.00 docs.x.ai (opens in a new tab)
  30. Grok 4.20US$175.00 docs.x.ai (opens in a new tab)
  31. Grok 4.20 Multi-Agent (beta)US$175.00 docs.x.ai (opens in a new tab)
  32. Kimi K2.6US$175.00 platform.kimi.ai (opens in a new tab)
  33. Kimi K2.7 CodeUS$175.00 platform.kimi.ai (opens in a new tab)
  34. GPT-6.1 TerraUS$200.00 developers.openai.com (opens in a new tab)
  35. Muse Spark 1.3US$210.00 dev.meta.ai (opens in a new tab)
  36. DeepSeek V4 ProUS$211.20 api-docs.deepseek.com (opens in a new tab)
  37. GLM-5.3US$228.00 docs.z.ai (opens in a new tab)
  38. Grok 4.7US$320.00 docs.x.ai (opens in a new tab)
  39. Grok 4.6US$320.00 docs.x.ai (opens in a new tab)
  40. Grok 4.5US$320.00 docs.x.ai (opens in a new tab)
  41. Qwen3.8-MaxUS$320.00 qwencloud.com (opens in a new tab)
  42. Gemini 2.5 ProUS$325.00 ai.google.dev (opens in a new tab)
  43. Kimi K2.7 Code HighspeedUS$350.00 platform.kimi.ai (opens in a new tab)
  44. GPT-6.1 SolUS$400.00 developers.openai.com (opens in a new tab)
  45. GPT-6 SolUS$400.00 developers.openai.com (opens in a new tab)
  46. Claude Sonnet 5.5US$400.00 docs.anthropic.com (opens in a new tab)
  47. Gemini 4 CarbonUS$400.00 blog.google (opens in a new tab)
  48. Gemini 4 ArgonUS$400.00 ai.google.dev (opens in a new tab)
  49. Kimi K3.1 ProUS$400.00 platform.kimi.ai (opens in a new tab)
  50. GPT-5.6 TerraUS$440.00 developers.openai.com (opens in a new tab)
  51. Gemini 3.1 Pro (preview)US$440.00 ai.google.dev (opens in a new tab)
  52. GPT-5.3-CodexUS$455.00 developers.openai.com (opens in a new tab)
  53. GPT-5.4US$550.00 developers.openai.com (opens in a new tab)
  54. Kimi K3US$600.00 platform.kimi.ai (opens in a new tab)
  55. MiMo-V2.6-Pro UltraSpeedUS$609.00 platform.xiaomimimo.com (opens in a new tab)
  56. GPT-5.6 SolUS$800.00 developers.openai.com (opens in a new tab)
  57. Claude Opus 5.5US$800.00 docs.anthropic.com (opens in a new tab)
  58. Muse WonderUS$800.00 dev.meta.ai (opens in a new tab)
  59. Kimi K3.1 Pro HighspeedUS$800.00 platform.kimi.ai (opens in a new tab)
  60. GPT-5.5US$1,100.00 developers.openai.com (opens in a new tab)
  61. GPT-6 AstraUS$2,000.00 developers.openai.com (opens in a new tab)
  62. Claude Fable 5.1US$2,000.00 docs.anthropic.com (opens in a new tab)
  63. Claude Mythos 5.1US$2,000.00 docs.anthropic.com (opens in a new tab)
  64. GPT-5.6 CyberUS$2,750.00 developers.openai.com (opens in a new tab)
  65. GPT-5.5 ProUS$6,600.00 developers.openai.com (opens in a new tab)
  66. GPT-5.4 ProUS$6,600.00 developers.openai.com (opens in a new tab)

List prices for standard requests, before caching, batch or volume discounts. Notes such as peak-hour rates and price changes are in the table above. Models with no published token price are not included.

Ecosystems: who makes these models

Ecosystem map: who makes the models on this page
United StatesOpenAIGooglexAIAnthropicMetaMicrosoftAmazonNVIDIAChinaDeepSeekAlibabaMoonshotZ.aiMiniMaxXiaomiStepFunEuropeMistralCanadaCohere

Solid ring: open weights released for the model on this page. Dashed: closed, not yet released or not stated. All circles are the same size on purpose, this is not a ranking.

Benchmark claims published by the labs

ModelTestScorePublished byDate
GPT-6.1 TerraTerminal-Bench 4.0Maximum reasoning effort50.3%OpenAI (opens in a new tab)2026-10-26
Claude Sonnet 5.5Terminal-Bench 4.070.6%Anthropic (opens in a new tab)2026-10-07
Claude Haiku 5.5Terminal-Bench 4.039.2%Anthropic (opens in a new tab)2026-10-07
Claude Haiku 5.5OSWorld 2.1 (offline subset)72.4%Anthropic (opens in a new tab)2026-10-07
Gemini 4 CarbonSEC-bench Pro88.2%Google (opens in a new tab)2026-10-28
Gemini 4 CarbonCWE-bench71%Google (opens in a new tab)2026-10-28
Grok 4.7CursorBench 4.046.3%xAI (opens in a new tab)2026-09-21
Mistral Large 4Terminal-Bench 4.041%Mistral, citing Artificial Analysis (opens in a new tab)2026-10
DeepSeek V4.1 Flash 1017DeepSWE v1.177%DeepSeek (opens in a new tab)2026-10-17
Qwen3.8-MaxTerminal Bench 2.186.6%Alibaba (opens in a new tab)2026-08-03
Kimi K3.1 ProTerminal-Bench 4.0Claude Code harness, max effort65.7%Moonshot (opens in a new tab)2026-10-23
GLM-5.3Terminal Bench 3.028.3%Z.ai (opens in a new tab)2026-08-14

Different tests and settings, so rows are not comparable with each other.

Code examples from official docs

Show the code examples (4)
A first agent with the OpenAI Agents SDK OpenAI, quoted from openai.github.io (opens in a new tab)
from agents import Agent, Runner

agent = Agent(name="Assistant", instructions="You are a helpful assistant")

result = Runner.run_sync(agent, "Write a haiku about recursion in programming.")
print(result.final_output)
Calling Gemini 4 Argon Google, quoted from ai.google.dev (opens in a new tab)
from google import genai

client = genai.Client()

interaction = client.interactions.create(
    model="gemini-4-argon",
    input="Write a three.js script that renders a realistic 3D black hole with gravitational lensing."
)

print(interaction.output_text)
An ADK research agent with Google Search Google, quoted from google.github.io (opens in a new tab)
from google.adk import Agent
from google.adk.tools import google_search

agent = Agent(
    name="researcher",
    model="gemini-flash-latest",
    instruction="You help users research topics thoroughly.",
    tools=[google_search],
)
Choosing a thinking level on GLM-5.3 Z.ai, quoted from z.ai (opens in a new tab)
{
  "model": "glm-5.3",
  "thinking": { "type": "enabled" },
  "reasoning_effort": "max"
}

Rumours and reports

Show the 4 unconfirmed reports

Watch

Official uploads. Nothing loads from YouTube until you press play.

Gemini 4 Argon: What's new and what's next Google for Developers on YouTube. Loads from YouTube only when you press play. Watch on YouTube
Introducing Muse Wonder & Muse Wonder Full: frontier models for agentic tasks AI at Meta on YouTube. Loads from YouTube only when you press play. Watch on YouTube

Next: AI agents

109 models are here. For the products and frameworks that put them to work, use the agent finder. Latest launches are in AI news.

Vendor-neutral. A shortlist is arithmetic on published figures with your weights, not a recommendation. Prices change often: check the linked page before you buy. Figures checked 1 Nov 2026.

Latest AI news

All AI news

Google United States

Google DeepMind releases Gemini Robotics 2.5 for real-world robots

DeepMind says its new vision-language-action model, built with Gemini 4 Argon, was tested on more than 200 tasks, finishes tasks 20% to 30% faster than the previous version and packed automotive parts with a 96% success rate in proof-of-concept tests at Mercedes-Benz. It is rolling out through partners including Agile Robots, Apptronik and Boston Dynamics. The figures are DeepMind's own; more robot training and inference means more GPU demand in data centres.

Source: SiliconANGLE (opens in a new tab)

OpenAI United States

OpenAI trims its funding round to up to US$20bn

CNBC confirmed OpenAI is now seeking up to US$20bn, down from about US$30bn, and the FT put the post-money valuation at US$1.25tn. The round is still open. Less fresh equity means more scrutiny of every gigawatt OpenAI has signed for.

Source: CNBC (opens in a new tab)

Google United States

One robots.txt line to opt a website out of AI training

Google says it will support a shared AI training control in robots.txt, alongside Microsoft, OpenAI and Anthropic. It is based on an IETF draft. Website owners get one switch instead of one per crawler.

Source: Google Search Central Blog (opens in a new tab)

Amazon United States

Amazon sticks with about $220bn of cash capex for 2026

Amazon repeated its outlook: "We continue to expect 2026 cash capital expenditures to be approximately $220 billion."

Source: Amazon.com, Inc. (opens in a new tab)

Who leads the labs behind these models

6 leaders and researchers who shape the models, chips and data centres. Roles are as stated on each linked page. Photos are freely licensed and credited on each card.

No freely licensed photo found, so none is shown.

Labs Flag of China

Liang Wenfeng

DeepSeek

Founder and CEO of DeepSeek and co-founder of the hedge fund High-Flyer.

Source: Wikipedia: Liang Wenfeng (opens in a new tab), accessed 1 November 2026

Rumours, theories and predictions

Not fact. Everything in this section is a rumour, a theory or a forecast. Each card says where it circulates and sits beside what is actually known, with its own source. We do not endorse any of it, and none of it is investment advice.

Rumour (0)Speculation (0)Prediction (3)

Predictions about the race, the boom and a collapse

Prediction Collapse

The AI bubble bursts in 2027 or 2028

The claim

Joachim Klement, head of market strategy at Panmure Liberum, says his core conviction is that the AI bubble bursts in 2027 or 2028. His year-end 2027 target for the S&P 500 is 5,000 points, which he put at 36% below the level at the time.

Circulates in: Bloomberg, via Yahoo Finance: AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says (opens in a new tab)

What is known

Prediction Collapse

A slow leak, then defensive stocks win

The claim

Capital Economics forecasts the S&P 500 at 6,500 by the end of 2027, about 16% lower, if air keeps leaking out of the AI trade or the bubble bursts. It also expects a final tech-led rally in 2026 first.

Circulates in: CNBC: Firm that correctly called the AI rally slowdown says here's where to hide out (opens in a new tab)

What is known

  • CNBC reports that Alphabet and Meta both showed negative free cash flow in their latest quarter while spending heavily on AI infrastructure. cnbc.com (opens in a new tab)

Prediction Collapse

US$3.5tn of AI infrastructure written off by 2030

The claim

Gartner analyst Will Sommer predicts some US$3.5tn of AI infrastructure spending could be written off by the end of 2030, and that 80% of neoclouds will stop operating independently by 2030, bought or gone under.

Circulates in: The Telegraph: The tech 'death spiral' that could destroy the AI boom (opens in a new tab)

What is known

  • Gartner's stated reason is that enterprise and consumer AI revenue will not be enough to give profitable returns on all planned AI capital spending. Hyperscaler capex itself is filed quarterly and tracked on our investment page. telegraph.co.uk (opens in a new tab)

Checked 1 November 2026. Rumour means an unconfirmed report of a specific event. Speculation means a theory or interpretation. Prediction means a forecast with a date or a number. See all rumours, theories and predictions Not investment advice.

Common questions

What is an AI model?

The trained "brain" behind an AI app. You give it text, pictures or sound and it gives an answer back. It does not act on its own.

What is a token?

A small chunk of text, often part of a word. AI companies charge by the million tokens, a bit like paying for electricity by the unit.

Why it matters Long documents and chats use more tokens, so they cost more.

How do I pick a model?

Tell the Model Finder what you need it for and your budget, and it suggests models that fit, with prices from each company's own price page.

Are the prices up to date?

Prices were checked on the date shown on the page and each one links to the company's own price page, which is always the final word.

What does "open weights" mean?

The company has published the model so anyone can download it and run it on their own computers.

Why it matters It is like a recipe being published instead of only selling the cake.

Which AI model is the best right now?

Among generally available models on the independent Artificial Analysis Intelligence Index, checked on 1 November 2026, Claude Opus 5.5 scores 58, GPT-6 Astra scores 57 and GPT-6.1 Sol scores 55. Gemini 4 Carbon scores 59 but is open only to selected partners so far.

Why it matters The top scores are within a point or two of each other, so price, speed and your own tests usually decide.

Source: Artificial Analysis leaderboard, checked 1 November 2026

How do ChatGPT, Claude and Gemini compare on API price?

At list prices per million tokens, GPT-6.1 Sol costs US$2 in and US$10 out, Claude Sonnet 5.5 costs US$2 in and US$10 out, and Gemini 4 Argon costs US$2 in and US$10 out. The top models cost more: GPT-6 Astra is US$10 in and US$50 out, and Claude Opus 5.5 is US$4 in and US$20 out.

Why it matters The mid-tier models from the three labs now cost the same per token, so quality and features decide.

Source: OpenAI, Anthropic and Google pricing pages, checked 1 November 2026

What is the cheapest AI API?

Among the text models we list with an independent quality score, Xiaomi's MiMo-V2.6-Flash is cheapest at US$0.14 per million input tokens and US$0.28 per million output tokens. GPT-6 Luna and Claude Haiku 5.5 both cost US$0.10 in and US$0.50 out. The pricing table on this page is sorted from cheapest to dearest.

Why it matters Cheap models are good for simple, high-volume jobs such as sorting or tagging text.

Source: Xiaomi MiMo, OpenAI and Anthropic pricing pages, checked 1 November 2026