High-volume, cost-sensitive work
Choose GPT-5.4 nano
GPT-5.4 nano costs 38% less on a typical mix of three input tokens for every output token ($0.46 against $0.75 per million tokens).
GPT-5.4 nano vs Mistral Large 4: price, context and capabilities
Choose GPT-5.4 nano for high-volume, cost-sensitive work and writing and code generation. Choose Mistral Large 4 for very long inputs, the hardest reasoning tasks, reasoning over long documents, self-hosting and data control and the latest release.
In short
- GPT-5.4 nano is 38% cheaper than Mistral Large 4 at the headline price ($0.4625 / 1M tokens vs $0.75 / 1M tokens).
- Mistral Large 4 reads more per request: 1M tokens against 400k.
- Mistral Large 4 is the newer model (October 2026, against Mar 17, 2026).
- Only GPT-5.4 nano offers reasoning, prompt caching, batch api.
- Only Mistral Large 4 offers self-hostable.
Which should you choose?
Each answer below comes straight from the published prices, specifications and independent benchmark results.
Writing and code generation
Choose GPT-5.4 nano
GPT-5.4 nano charges $1.25 per million output tokens, against $1.50 for Mistral Large 4. Output dominates the bill when answers are long.
Very long inputs
Choose Mistral Large 4
Mistral Large 4 reads up to 1M tokens per request, against 400k for GPT-5.4 nano.
Hardest reasoning tasks
Choose Mistral Large 4
Mistral Large 4 scores 38.4 on the Artificial Analysis Intelligence Index, against 20.7 for GPT-5.4 nano.
Reasoning over long documents
Choose Mistral Large 4
Mistral Large 4 scores 81.3% on Long-context reasoning (AA-LCR), against 76.7% for GPT-5.4 nano.
Self-hosting and data control
Choose Mistral Large 4
Mistral Large 4 has open weights, so you can run it on your own servers; GPT-5.4 nano is only available through its provider.
Latest release
Choose Mistral Large 4
Mistral Large 4 is the newer release (October 2026, against Mar 17, 2026 for GPT-5.4 nano).
Monthly cost at three volumes
| Volume | GPT-5.4 nano | Mistral Large 4 | Difference |
|---|---|---|---|
| Prototype: 1M input, 250K output tokens | $0.51 | $0.88 | GPT-5.4 nano, $0.36 less |
| Production: 20M input, 5M output tokens | $10.25 | $17.50 | GPT-5.4 nano, $7.25 less |
| Scale: 500M input, 100M output tokens | $225.00 | $400.00 | GPT-5.4 nano, $175.00 less |
Standard rates, without caching or batch discounts. Volumes are per month.
Specifications side by side
| GPT-5.4 nano | Mistral Large 4 | |
|---|---|---|
| Provider | OpenAI | Mistral AI |
| Category | Language models | Language models |
| Status | Deprecated | Preview |
| Headline price | $0.4625 / 1M tokens | $0.75 / 1M tokens |
| Input | $0.20 / 1M tokens | $0.50 / 1M tokens |
| Output | $1.25 / 1M tokens | $1.50 / 1M tokens |
| Cached input | $0.02 / 1M tokens | No data |
| Context window | 400k | 1M |
| Max output | 128k | No data |
| Released | Mar 17, 2026 | October 2026 |
| Knowledge cutoff | August 2025 | No data |
| Licence | Proprietary | Open weights |
| Capabilities | Vision, Reasoning, Tool calling, Structured output, Prompt caching, Batch API | Vision, Tool calling, Structured output, Self-hostable |
| API model id | gpt-5.4-nano | mistral-large-4 |
Benchmarks side by side
Leader in bold.
| Benchmark | GPT-5.4 nano | Mistral Large 4 |
|---|---|---|
| Intelligence Index | 20.7 | 38.4 |
| SciCode | 47.2% | 54.2% |
| Humanity's Last Exam | 28.3% | 35% |
| MMMU-Pro (visual reasoning) | 65.4% | 76.4% |
| Long-context reasoning (AA-LCR) | 76.7% | 81.3% |
| Terminal-Bench Hard | 42.4% | No data |
| GPQA Diamond | 81.7% | No data |
| IFBench (instruction following) | 75.9% | No data |
| τ²-Bench (agentic tool use) | 76% | No data |
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 GPT-5.4 nano or Mistral Large 4?
Choose GPT-5.4 nano for high-volume, cost-sensitive work and writing and code generation. Choose Mistral Large 4 for very long inputs, the hardest reasoning tasks, reasoning over long documents, self-hosting and data control and the latest release.
Which is cheaper, GPT-5.4 nano or Mistral Large 4?
GPT-5.4 nano is 38% cheaper than Mistral Large 4 at the headline price ($0.4625 / 1M tokens vs $0.75 / 1M tokens).
Which has the larger context window, GPT-5.4 nano or Mistral Large 4?
Mistral Large 4 reads more per request: 1M tokens against 400k.
What is the difference between GPT-5.4 nano and Mistral Large 4?
GPT-5.4 nano is made by OpenAI and Mistral Large 4 by Mistral AI. GPT-5.4 nano is 38% cheaper than Mistral Large 4 at the headline price ($0.4625 / 1M tokens vs $0.75 / 1M tokens). Mistral Large 4 reads more per request: 1M tokens against 400k. Mistral Large 4 is the newer model (October 2026, against Mar 17, 2026). Only GPT-5.4 nano offers reasoning, prompt caching, batch api. Only Mistral Large 4 offers self-hostable.
How much do GPT-5.4 nano and Mistral Large 4 cost per month?
At 20 million input and 5 million output tokens a month, GPT-5.4 nano costs $10.25 and Mistral Large 4 costs $17.50, at standard rates.
Which is newer, GPT-5.4 nano or Mistral Large 4?
Mistral Large 4 was released on October 2026 and GPT-5.4 nano on Mar 17, 2026.