Mistral Large 2 (2407) vs o3
Mistral Large 2 (2407) (2024) and o3 (2025) are frontier reasoning models from MistralAI and OpenAI. Mistral Large 2 (2407) ships a 128K-token context window, while o3 ships a 200K-token context window. On HumanEval, o3 leads by 4.7 pts. On pricing, Mistral Large 2 (2407) costs $0.50/1M input tokens versus $2/1M for the alternative. This comparison covers specs, pricing, API access, capabilities, benchmarks, input and output token costs, and production fit for coding and agent workloads.
Mistral Large 2 (2407) is ~300% cheaper at $0.50/1M; pay for o3 only for coding workflow support.
Decision scorecard
Local evidence first| Signal | Mistral Large 2 (2407) | o3 |
|---|---|---|
| Best for | tool-calling agents and provider-routed production | reasoning-heavy apps, multimodal apps, and tool-calling agents |
| Decision fit | Coding, RAG, and Agents | Coding, RAG, and Agents |
| Context window | 128K | 200K |
| Cheapest output | $1.50/1M tokens | $8/1M tokens |
| Provider routes | 7 tracked | 3 tracked |
| Shared benchmarks | 2 shared | HumanEval leader |
Decision tradeoffs
- Mistral Large 2 (2407) has the lower cheapest tracked output price at $1.50/1M tokens.
- Mistral Large 2 (2407) has broader tracked provider coverage for fallback and route flexibility.
- Local decision data tags Mistral Large 2 (2407) for Coding, RAG, and Agents.
- o3 holds a shared-benchmark lead on HumanEval, ahead by 4.7 points.
- o3 has the larger context window for long prompts, retrieval packs, or transcript analysis.
- o3 uniquely exposes Vision, Multimodal, and Reasoning in local model data.
- Local decision data tags o3 for Coding, RAG, and Agents.
Monthly cost at traffic
Estimate token spend from the cheapest tracked input and output route or tier on this page.
Mistral Large 2 (2407)
$775
Cheapest tracked route/tier: Chutes AI
o3
$3,600
Cheapest tracked route/tier: OpenAI API
Estimated monthly gap: $2,825. Batch, cache, alternate speed tiers, and negotiated pricing are excluded from this local estimate.
Switch friction
- Provider overlap exists on OpenRouter; start route-level A/B tests there.
- o3 is $6.50/1M tokens higher on cheapest tracked output pricing, so quality gains need to justify the spend.
- o3 adds Vision, Multimodal, and Reasoning in local capability data.
- Provider overlap exists on OpenRouter; start route-level A/B tests there.
- Mistral Large 2 (2407) is $6.50/1M tokens lower on cheapest tracked output pricing before cache, batch, or negotiated discounts.
- Check replacement coverage for Vision, Multimodal, and Reasoning before moving production traffic.
Specs
| Specification | ||
|---|---|---|
| Released | 2024-07-24 | 2025-04-16 |
| Context window | 128K | 200K |
| Parameters | 123B | — |
| Architecture | Decoder Only | Decoder Only |
| License | Mistral License | Proprietary |
| Openness | Open weights | Proprietary |
| Weights | Available | Not released |
| Code | Unknown | Unknown |
| Commercial use | Not permitted | Restricted |
| Knowledge cutoff | 2024-03 | 2024-06 |
Pricing and availability
| Pricing attribute | Mistral Large 2 (2407) | o3 |
|---|---|---|
| Input price | $0.50/1M tokens | $2/1M tokens |
| Output price | $1.50/1M tokens | $8/1M tokens |
| Providers |
Capabilities
| Capability | Mistral Large 2 (2407) | o3 |
|---|---|---|
| Vision | No | Yes |
| Multimodal | No | Yes |
| Reasoning | No | Yes |
| JSON / Tool use | Yes | Yes |
| Structured outputs | Yes | Yes |
| Code execution | No | Yes |
| IDE integration | No | No |
| Computer use | No | No |
| Parallel agents | No | No |
Benchmarks
| Benchmark | Mistral Large 2 (2407) | o3 |
|---|---|---|
| HumanEval | 92.0 | 96.7 |
| Chatbot Arena | 1266.0 | 1412.0 |
Deep dive
On shared benchmark coverage, HumanEval has Mistral Large 2 (2407) at 92 and o3 at 96.7, with o3 ahead by 4.7 points; Chatbot Arena has Mistral Large 2 (2407) at 1266 and o3 at 1412, with o3 ahead by 146 points. The largest visible gap is 146 points on Chatbot Arena, 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: o3, multimodal input: o3, reasoning mode: o3, JSON / Tool use: o3, and code execution: o3. Both models share JSON / 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, Mistral Large 2 (2407) lists $0.50/1M input and $1.50/1M output tokens on the cheapest tracked provider, while o3 lists $2/1M input and $8/1M output tokens on the cheapest tracked provider. A 70/30 input-output blend puts Mistral Large 2 (2407) lower by about $3 per million blended tokens. Availability is 7 providers versus 3, so concentration risk also matters.
Choose Mistral Large 2 (2407) when provider fit, lower input-token cost, and broader provider choice are central to the workload. Choose o3 when coding workflow support and larger context windows are more important. For production, rerun your own prompts through the exact provider, region, and tool stack you plan to ship.
FAQ
Which has a larger context window, Mistral Large 2 (2407) or o3?
o3 supports 200K tokens, while Mistral Large 2 (2407) supports 128K tokens. That gap matters most for long documents, large codebases, retrieval-heavy agents, and conversations where earlier context must remain visible.
Which is cheaper, Mistral Large 2 (2407) or o3?
Mistral Large 2 (2407) is cheaper on tracked token pricing. Mistral Large 2 (2407) costs $0.50/1M input and $1.50/1M output tokens. o3 costs $2/1M input and $8/1M output tokens. Provider discounts or batch pricing can still change the final bill.
Is Mistral Large 2 (2407) or o3 open source?
Mistral Large 2 (2407) is listed under Mistral License. o3 is listed under Proprietary. 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, Mistral Large 2 (2407) or o3?
o3 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. Use this as a quick comparison signal, then confirm the provider-specific limits before committing to production.
Which is better for multimodal input, Mistral Large 2 (2407) or o3?
o3 has the clearer documented multimodal input signal in this comparison. If multimodal input is mission-critical, validate it against the provider endpoint because model-level support and API-level exposure can differ.
Where can I run Mistral Large 2 (2407) and o3?
Mistral Large 2 (2407) is available on Microsoft Foundry, IBM watsonx, OpenRouter, AWS Bedrock, and Chutes AI. o3 is available on OpenAI API, OpenRouter, and Vercel AI Gateway. Provider coverage can affect latency, region availability, compliance posture, and fallback options.
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Last reviewed: 2026-10-17. Data sourced from public model cards and provider documentation.