GPT-5.4 vs Mistral Large 2
GPT-5.4 (2026) and Mistral Large 2 (2025) are frontier reasoning models from OpenAI and MistralAI. GPT-5.4 ships a not-yet-sourced context window, while Mistral Large 2 ships a 128K-token context window. On MMLU PRO, GPT-5.4 leads by 17.8 pts. On pricing, Mistral Large 2 costs $0.48/1M input tokens versus $2.5/1M for the alternative. This comparison covers specs, pricing, capabilities, benchmarks, provider availability, and production fit.
Mistral Large 2 is ~421% cheaper at $0.48/1M; pay for GPT-5.4 only for coding workflow support.
Specs
| Released | 2026-03-05 | 2025-11-25 |
| Context window | — | 128K |
| Parameters | — | 123B |
| Architecture | decoder only | decoder only |
| License | Proprietary | True |
| Knowledge cutoff | 2025-08 | 2025-07 |
Pricing and availability
| GPT-5.4 | Mistral Large 2 | |
|---|---|---|
| Input price | $2.5/1M tokens | $0.48/1M tokens |
| Output price | $15/1M tokens | $2.4/1M tokens |
| Providers |
Capabilities
| GPT-5.4 | Mistral Large 2 | |
|---|---|---|
| Vision | ||
| Multimodal | ||
| Reasoning | ||
| Function calling | ||
| Tool use | ||
| Structured outputs | ||
| Code execution |
Benchmarks
| Benchmark | GPT-5.4 | Mistral Large 2 |
|---|---|---|
| MMLU PRO | 87.5 | 69.7 |
Deep dive
On shared benchmark coverage, MMLU PRO has GPT-5.4 at 87.5 and Mistral Large 2 at 69.7, with GPT-5.4 ahead by 17.8 points. The largest visible gap is 17.8 points on MMLU PRO, which matters most when that benchmark mirrors your workload. Treat isolated benchmark wins as directional, because provider routing, prompt style, and tool access can move real application results.
The capability footprint differs most on vision: Mistral Large 2, reasoning mode: GPT-5.4, and code execution: GPT-5.4. Both models share multimodal input, function calling, tool use, and structured outputs, so the practical split is not just feature count. Use those differences to decide whether the page is about raw model quality, agentic coding support, multimodal ingestion, or predictable structured API behavior.
For cost, GPT-5.4 lists $2.5/1M input and $15/1M output tokens, while Mistral Large 2 lists $0.48/1M input and $2.4/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts Mistral Large 2 lower by about $5.19 per million blended tokens. Availability is 2 providers versus 4, so concentration risk also matters.
Choose GPT-5.4 when coding workflow support are central to the workload. Choose Mistral Large 2 when vision-heavy evaluation, lower input-token cost, and broader provider choice are more important. For production, rerun your own prompts through the exact provider, region, and tool stack you plan to ship.
FAQ
Which is cheaper, GPT-5.4 or Mistral Large 2?
Mistral Large 2 is cheaper on tracked token pricing. GPT-5.4 costs $2.5/1M input and $15/1M output tokens. Mistral Large 2 costs $0.48/1M input and $2.4/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is GPT-5.4 or Mistral Large 2 open source?
GPT-5.4 is listed under Proprietary. Mistral Large 2 is listed under True. License labels affect whether you can self-host, redistribute weights, or rely only on hosted APIs, so confirm the upstream license before deployment.
Which is better for vision, GPT-5.4 or Mistral Large 2?
Mistral Large 2 has the clearer documented vision signal in this comparison. If vision is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.
Which is better for multimodal input, GPT-5.4 or Mistral Large 2?
Both GPT-5.4 and Mistral Large 2 expose multimodal input. The better choice depends on benchmark fit, context budget, pricing, and whether your provider route exposes the same capability surface. Use this as a quick comparison signal, then confirm the provider-specific limits before committing to production.
Which is better for reasoning mode, GPT-5.4 or Mistral Large 2?
GPT-5.4 has the clearer documented reasoning mode signal in this comparison. If reasoning mode is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.
Where can I run GPT-5.4 and Mistral Large 2?
GPT-5.4 is available on OpenAI API and OpenRouter. Mistral Large 2 is available on OpenRouter, IBM watsonx, AWS Bedrock, and Mistral AI Studio. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
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Last reviewed: 2026-04-24. Data sourced from public model cards and provider documentation.