Choosing between GPT-5.6 Terra (Max) and Step 5 Preview also means choosing between OpenAI and StepFun. The figures come from tracked catalogue data, not from our own testing, so treat them as a starting point for a trial on your tasks. The widest gap is the wait for the first token: 0.91 seconds for Step 5 Preview against 3.4 minutes for GPT-5.6 Terra Max.
Step 5 Preview is the faster writer
GPT-5.6 Terra Max generates about 116 tokens per second and Step 5 Preview about 151 tokens per second. Step 5 Preview is ahead by 31% on throughput. Time to first token is 3.4 minutes for GPT-5.6 Terra Max and 0.91 seconds for Step 5 Preview. In an interactive app, Step 5 Preview will feel noticeably more responsive. Waits that long are felt on every chat-style request, though they matter less for batch jobs.
Put together, a 400-token answer would take about 3.5 minutes from GPT-5.6 Terra Max and 3.6 seconds from Step 5 Preview, counting the first-token wait.
Cost: Step 5 Preview is cheaper
GPT-5.6 Terra Max lists $2.00 per million input tokens and $12.00 per million output tokens; Step 5 Preview lists $1.00 and $2.70. For output tokens, GPT-5.6 Terra Max is 4.4 times the price of Step 5 Preview.
For a sample workload of 1 million input tokens and 200,000 output tokens, GPT-5.6 Terra Max would cost $4.40 and Step 5 Preview $1.54, a difference of $2.86. Scale it up to summarising 1,000 documents of 8,000 tokens into 400-token summaries and the bill is $20.80 for GPT-5.6 Terra Max against $9.08 for Step 5 Preview.
Release timing
The release dates are July 9, 2026 for GPT-5.6 Terra Max and September 18, 2026 for Step 5 Preview, about 2 months apart.
Reasoning and overall scores
On the intelligence index, GPT-5.6 Terra Max scores 32.3 against 28.5 for Step 5 Preview. That is a clear margin for an index that averages many evaluations. In relative terms, GPT-5.6 Terra Max scores 13% higher.
For context, that places GPT-5.6 Terra Max 46th and Step 5 Preview 61st out of 109 scored models still on offer.
The catalogue does not yet split either model's score into coding and math indexes.
Value for money
A blunt value measure, blended price over intelligence score, puts GPT-5.6 Terra Max at $0.14 and Step 5 Preview at $0.050 per point. So GPT-5.6 Terra Max buys its higher score at a premium, while Step 5 Preview is the value pick, paying 64% less per point.

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