High-volume, cost-sensitive work
Choose Chat Latest
Chat Latest costs 44% less on a typical mix of three input tokens for every output token ($11.25 against $20.00 per million tokens).
Chat Latest vs Claude Fable 5.1: price, context and capabilities
Choose Chat Latest for high-volume, cost-sensitive work and writing and code generation. Choose Claude Fable 5.1 for reused prompts and documents (RAG, agents), very long inputs, the latest release and the most recent knowledge.
In short
- Chat Latest is 44% cheaper than Claude Fable 5.1 at the headline price ($11.25 / 1M tokens vs $20.00 / 1M tokens).
- Claude Fable 5.1 reads more per request: 1M tokens against 400k.
- Claude Fable 5.1 is the newer model (September 2026, against May 5, 2026).
- Only Claude Fable 5.1 offers reasoning.
Which should you choose?
Each answer below comes straight from the published prices, specifications and independent benchmark results.
Writing and code generation
Choose Chat Latest
Chat Latest charges $30.00 per million output tokens, against $50.00 for Claude Fable 5.1. Output dominates the bill when answers are long.
Reused prompts and documents (RAG, agents)
Choose Claude Fable 5.1
Claude Fable 5.1 charges $0.25 per million cached input tokens, against $0.50 for Chat Latest.
Very long inputs
Choose Claude Fable 5.1
Claude Fable 5.1 reads up to 1M tokens per request, against 400k for Chat Latest.
Latest release
Choose Claude Fable 5.1
Claude Fable 5.1 is the newer release (September 2026, against May 5, 2026 for Chat Latest).
Most recent knowledge
Choose Claude Fable 5.1
Claude Fable 5.1 was trained on data up to June 2026, against April 2026 for Chat Latest.
Monthly cost at three volumes
| Volume | Chat Latest | Claude Fable 5.1 | Difference |
|---|---|---|---|
| Prototype: 1M input, 250K output tokens | $12.50 | $22.50 | Chat Latest, $10.00 less |
| Production: 20M input, 5M output tokens | $250.00 | $450.00 | Chat Latest, $200.00 less |
| Scale: 500M input, 100M output tokens | $5,500 | $10,000 | Chat Latest, $4,500 less |
Standard rates, without caching or batch discounts. Volumes are per month.
Specifications side by side
| Chat Latest | Claude Fable 5.1 | |
|---|---|---|
| Provider | OpenAI | Anthropic |
| Category | Language models | Language models |
| Status | Generally available | Generally available |
| Headline price | $11.25 / 1M tokens | $20.00 / 1M tokens |
| Input | $5.00 / 1M tokens | $10.00 / 1M tokens |
| Output | $30.00 / 1M tokens | $50.00 / 1M tokens |
| Cached input | $0.50 / 1M tokens | $0.25 / 1M tokens |
| Context window | 400k | 1M |
| Max output | 128k | 128k |
| Released | May 5, 2026 | September 2026 |
| Knowledge cutoff | April 2026 | June 2026 |
| Licence | Proprietary | Proprietary |
| Capabilities | Vision, Tool calling, Structured output, Prompt caching, Batch API | Vision, Reasoning, Tool calling, Structured output, Prompt caching, Batch API |
| API model id | chat-latest | claude-fable-5-1 |
Benchmarks side by side
Leader in bold.
| Benchmark | Chat Latest | Claude Fable 5.1 |
|---|---|---|
| Intelligence Index | No data | 53.4 |
| SciCode | No data | 63.1% |
| GPQA Diamond | No data | 93.7% |
| Humanity's Last Exam | No data | 59.1% |
| Long-context reasoning (AA-LCR) | No data | 85.3% |
Independent evaluations by Artificial Analysis, run the same way for every model, at the reasoning setting shown. Percentages unless marked as an index.
Frequently asked questions
Should I choose Chat Latest or Claude Fable 5.1?
Choose Chat Latest for high-volume, cost-sensitive work and writing and code generation. Choose Claude Fable 5.1 for reused prompts and documents (RAG, agents), very long inputs, the latest release and the most recent knowledge.
Which is cheaper, Chat Latest or Claude Fable 5.1?
Chat Latest is 44% cheaper than Claude Fable 5.1 at the headline price ($11.25 / 1M tokens vs $20.00 / 1M tokens).
Which has the larger context window, Chat Latest or Claude Fable 5.1?
Claude Fable 5.1 reads more per request: 1M tokens against 400k.
What is the difference between Chat Latest and Claude Fable 5.1?
Chat Latest is made by OpenAI and Claude Fable 5.1 by Anthropic. Chat Latest is 44% cheaper than Claude Fable 5.1 at the headline price ($11.25 / 1M tokens vs $20.00 / 1M tokens). Claude Fable 5.1 reads more per request: 1M tokens against 400k. Claude Fable 5.1 is the newer model (September 2026, against May 5, 2026). Only Claude Fable 5.1 offers reasoning.
How much do Chat Latest and Claude Fable 5.1 cost per month?
At 20 million input and 5 million output tokens a month, Chat Latest costs $250.00 and Claude Fable 5.1 costs $450.00, at standard rates.
Which is newer, Chat Latest or Claude Fable 5.1?
Claude Fable 5.1 was released on September 2026 and Chat Latest on May 5, 2026.