Model Comparison

DeepSeek V3 (Dec '24) vs Mistral Large 2 (Nov '24)

DeepSeek vs Mistral

Side-by-side benchmarks, pricing, and value analysis. See which model costs less per intelligence point.

DeepSeek V3 (Dec '24) (DeepSeek) and Mistral Large 2 (Nov '24) (Mistral) are both large language models available via API. On list price, DeepSeek V3 (Dec '24) is cheaper, while DeepSeek V3 (Dec '24) scores higher on benchmarks. When you factor in token efficiency — how many tokens each model needs for the same task — DeepSeek V3 (Dec '24) delivers more intelligence per dollar. List prices can be misleading because different models consume different numbers of tokens for the same work. The effective costs below adjust for this using benchmark data, so you can compare what equivalent work actually costs.

Benchmark Scores

Intelligence Index

DeepSeek V3 (Dec '24) 16.4
Mistral Large 2 (Nov '24) 15.1

MMLU-Pro

DeepSeek V3 (Dec '24) 0.8
Mistral Large 2 (Nov '24) 0.7

GPQA

DeepSeek V3 (Dec '24) 0.6
Mistral Large 2 (Nov '24) 0.5

AIME

DeepSeek V3 (Dec '24) 0.2
Mistral Large 2 (Nov '24) 0.1

Performance

Metric DeepSeek V3 (Dec '24) Mistral Large 2 (Nov '24) Gap
Output tokens/sec N/A 44.8
Time to first token N/A 0.48s
Context window 128,000 128,000

Pricing per 1M Tokens

Metric DeepSeek V3 (Dec '24) Mistral Large 2 (Nov '24) Gap
Input price / 1M tokens $0.4 $2.0 5.0x
Output price / 1M tokens $0.89 $6.0 6.7x
Cache hit price / 1M tokens $0.028 $0.028

Effective Cost per 1M Tokens

List prices adjusted for token efficiency. Different models use different numbers of tokens for the same task — these prices reflect what equivalent work actually costs.

Metric DeepSeek V3 (Dec '24) Mistral Large 2 (Nov '24) Gap
Input (adjusted) / 1M $0.0915 $8.7418 95.5x
Output (adjusted) / 1M $7.6324 $0.6996 10.9x
Input token ratio 0.23x 4.37x
Output token ratio 8.58x 0.12x

Intelligence vs Price

Higher is smarter, further left is cheaper. Top-left is best value. Prices adjusted for token efficiency.

10 15 20 25 30 35 40 $1 $2 $5 $10 $20 $50 $100 Effective $/1M tokens (input + output) Intelligence Index Claude 4.5 Sonn... Gemini 2.5 Pro Grok 3 mini Rea... GPT-4.1 Gemini 2.5 Flas... Claude 4 Sonnet... GPT-4.1 mini DeepSeek R1 052... DeepSeek V3 (Dec '24) Mistral Large 2 (Nov '24)
DeepSeek V3 (Dec '24) Mistral Large 2 (Nov '24) Other models

Value Analysis

Cheaper

DeepSeek V3 (Dec '24)

Higher Benchmarks

DeepSeek V3 (Dec '24)

Better Value ($/IQ point)

DeepSeek V3 (Dec '24)

DeepSeek V3 (Dec '24)

$0.47 / IQ point

Mistral Large 2 (Nov '24)

$0.63 / IQ point

Frequently Asked Questions

Which is cheaper, DeepSeek V3 (Dec '24) or Mistral Large 2 (Nov '24)?

DeepSeek V3 (Dec '24) is cheaper on list price. DeepSeek V3 (Dec '24) costs $0.4/M input and $0.89/M output tokens. Mistral Large 2 (Nov '24) costs $2.0/M input and $6.0/M output tokens. On combined list price, DeepSeek V3 (Dec '24) is 6.2x cheaper than Mistral Large 2 (Nov '24). However, list prices alone can be misleading because different models use different numbers of tokens for the same task. Check the effective cost comparison above, which adjusts for token efficiency using benchmark data.

Which scores higher on benchmarks, DeepSeek V3 (Dec '24) or Mistral Large 2 (Nov '24)?

DeepSeek V3 (Dec '24) has a higher Intelligence Index (16.4) compared to Mistral Large 2 (Nov '24) (15.1). The Intelligence Index is a composite score from three industry-standard benchmarks: MMLU-Pro (general knowledge and reasoning), GPQA (graduate-level science), and AIME (mathematical problem solving). A higher score means the model produces more accurate and capable responses across a broad range of tasks. This composite approach is more reliable than any single benchmark because it measures different types of capability.

Which model is better value for money, DeepSeek V3 (Dec '24) or Mistral Large 2 (Nov '24)?

DeepSeek V3 (Dec '24) offers better value at $0.47 per intelligence point compared to Mistral Large 2 (Nov '24) at $0.63 per intelligence point. Cost per intelligence point measures how much you pay for each unit of benchmark performance, calculated as the combined token cost divided by the Intelligence Index score. When token efficiency data is available, this calculation uses effective prices (adjusted for the fact that different models consume different numbers of tokens for the same task) rather than raw list prices. A lower cost per intelligence point means you get more capability per dollar.

Which has a larger context window, DeepSeek V3 (Dec '24) or Mistral Large 2 (Nov '24)?

DeepSeek V3 (Dec '24) supports 128,000 tokens compared to Mistral Large 2 (Nov '24) with 128,000 tokens. The context window determines how much text (including your prompt, conversation history, and documents) the model can process in a single request. A larger context window is important for tasks like document summarization, long-form analysis, and multi-turn conversations with extensive history. If your use case involves processing large inputs, the context window may be a deciding factor.

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