If you only looked at the intelligence index, GPT-5.6 Terra (Max) and Tencent Hy4 would be hard to tell apart. Everything below is read from the benchmark, price and speed data in Franklin AI's catalogue; nothing here comes from a hands-on test. The widest gap is the wait for the first token: 2.4 seconds for Tencent Hy4 against 3.4 minutes for GPT-5.6 Terra Max.
Waiting time
Measured output speed is 116 tokens per second for GPT-5.6 Terra Max and 94 tokens per second for Tencent Hy4. GPT-5.6 Terra Max is ahead by 24% on throughput. Time to first token is 3.4 minutes for GPT-5.6 Terra Max and 2.4 seconds for Tencent Hy4. GPT-5.6 Terra Max writes faster once it starts, but Tencent Hy4's head start is large enough that Tencent Hy4 still finishes first at any typical reply length; GPT-5.6 Terra Max only catches up beyond about 99,000 tokens. Waits that long are felt on every chat-style request, though they matter less for batch jobs.
For a 600-token response, first token plus generation comes to roughly 3.5 minutes on GPT-5.6 Terra Max and 8.8 seconds on Tencent Hy4.
When they came out
The release dates are July 9, 2026 for GPT-5.6 Terra Max and November 3, 2026 for Tencent Hy4, about 4 months apart.
Token pricing and a sample bill
Per million tokens, GPT-5.6 Terra Max charges $2.00 for input and $12.00 for output, while Tencent Hy4 charges $0.834 and $2.501. That makes Tencent Hy4's output 79% cheaper.
A reference job of 1 million input tokens and 200,000 output tokens costs $4.40 with GPT-5.6 Terra Max and $1.33 with Tencent Hy4, so Tencent Hy4 saves $3.07. For summarising 1,000 documents of 8,000 tokens into 400-token summaries, Tencent Hy4 would come in 63% lower: $20.80 for GPT-5.6 Terra Max against $7.67 for Tencent Hy4. Blended at three input tokens per output token, the effective rates are $4.50 for GPT-5.6 Terra Max and $1.251 for Tencent Hy4.
Benchmark scores
GPT-5.6 Terra Max records 32.3 on the intelligence index and Tencent Hy4 records 34.6. That is a modest edge: real, but small enough that the right set of tasks could reverse it. In relative terms, Tencent Hy4 scores 7% higher.
For context, that places GPT-5.6 Terra Max 46th and Tencent Hy4 42nd out of 109 scored models still on offer.
Neither model has a separate coding or math index recorded yet, so those narrower comparisons will have to wait for more data.
Is the price in proportion?
Per point of intelligence index, GPT-5.6 Terra Max costs $0.14 of blended price per million tokens and Tencent Hy4 $0.036. With the higher score and the lower cost per point, Tencent Hy4 is the better value per point on these numbers.

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