As of August 20, 2026, Magistral Medium is 30% cheaper per million tokens than o3. Magistral Medium is $2.00 / $5.00 per million input/output tokens versus o3 at $2.00 / $8.00. Sources: https://anotherwrapper.com/tools/llm-pricing and https://developers.openai.com/api/docs/pricing
Sources: AnotherWrapper LLM pricing (https://anotherwrapper.com/tools/llm-pricing); OpenAI API pricing (https://developers.openai.com/api/docs/pricing)
Magistral Medium
Mistral
Input
$2.00
Output
$5.00
o3
OpenAI
Input
$2.00
Output
$8.00
Token pricing, specs, and benchmarks side by side
Magistral Mediumo3Verdict
Magistral Medium offers significantly lower pricing, while o3 leads on benchmark performance. Your choice depends on whether cost efficiency or raw capability matters more for your use case.
As of August 20, 2026, Magistral Medium is 30% cheaper on blended LLM API pricing. Magistral Medium costs $2.00 per million input tokens and $5.00 per million output tokens ($7.00 blended 1M-in + 1M-out). o3 costs $2.00 / $8.00 per million tokens ($10.00 blended). Sources: https://anotherwrapper.com/tools/llm-pricing and https://developers.openai.com/api/docs/pricing. The cheapest LLM for your app still depends on how many output tokens you generate.
Magistral Medium Mistral API pricing is $2.00 input and $5.00 output per million tokens via Mistral AI. o3 OpenAI API pricing is $2.00 input and $8.00 output per million tokens via OpenAI. Use those four numbers, not ChatGPT Plus or Claude Pro subscription prices, when you are comparing APIs.
o3 has a published SWE-bench Verified score of 69.1%. Magistral Medium does not have that eval on this page yet.
Magistral Medium supports a 40K token context window, while o3 supports 200K tokens. o3 offers a larger context window. Filling a larger window bills more input tokens, so the cheaper-per-million model can still cost more on long documents.
o3 leads on 9 of 9 shared benchmarks versus Magistral Medium's 0 wins. Check the comparison table for GPQA Diamond, SWE-bench, MMLU, HLE, and the other evals we track. Token price and benchmark score together are the usual LLM comparison, not either number alone.
Both Magistral Medium and o3 are production API models. For cost-sensitive production traffic, Magistral Medium has better economics on the blended 1M-in + 1M-out scale. For maximum capability, weight the benchmark table for your domain. Many production stacks route cheap models for drafts and a frontier model for the hard turn, which is usually cheaper than sending everything to the expensive API.
Yes. Call Magistral Medium through Mistral AI and o3 through OpenAI with separate API keys, or through a gateway that already wraps both. Keep prompts in tokens, not characters, when you estimate the invoice. AnotherWrapper templates can swap providers without rewriting auth and billing.
List rates are the latest published Mistral API pricing and OpenAI API pricing, quoted per million tokens. Official rate sheets: https://anotherwrapper.com/tools/llm-pricing and https://developers.openai.com/api/docs/pricing. Prompt caching, batch APIs, and committed-use discounts can change the invoice. Benchmark scores are from official publications and independent evals, updated as new numbers land.
Magistral Medium supports up to an unspecified number of output tokens per request, while o3 supports up to 100K output tokens. Output tokens are usually the expensive half of API pricing, so a higher max output cap is a capability, not a discount.
o3 has a measured throughput of approximately 50 tokens/second. Throughput data for Magistral Medium is not yet available. Throughput (tokens per second) and time-to-first-token are why two models with the same per-million-token price can still feel different in chat and agents.
Use the model pickers at the top of this LLM comparison. Search any model in the index and the URL updates. Open Magistral Medium or o3 from the sidebar for the single-model API pricing page, or go back to the LLM pricing table to sort by cheapest blended cost.
This comparison covers API pricing, context window, throughput, and benchmark scores. Magistral Medium costs $2.00/M input and $5.00/M output via Mistral AI. o3 costs $2.00/M input and $8.00/M output.
Rank both on the LLM leaderboard, SWE-bench, and Humanity's Last Exam.
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