MiniMax-M3.1-Flash vs Mistral Large 4 High compared

Here is how MiniMax-M3.1-Flash, built by MiniMax, lines up against Mistral Large 4 (High) from Mistral. 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 clearest gap is on the bill: Mistral Large 4 High is 4 times the blended price of MiniMax-M3.1-Flash.

Cost: MiniMax-M3.1-Flash is cheaper

The list prices are $0.15 in and $0.60 out for MiniMax-M3.1-Flash, and $0.70 in and $2.10 out for Mistral Large 4 High, per million tokens. Mistral Large 4 High costs 3.5 times as much per output token.

For a sample workload of 1 million input tokens and 200,000 output tokens, MiniMax-M3.1-Flash would cost $0.27 and Mistral Large 4 High $1.12, a difference of $0.85. A bigger example, an agent that reads 50 million tokens and writes 5 million in a month, costs $10.50 on MiniMax-M3.1-Flash and $45.50 on Mistral Large 4 High: a gap of $35.00.

Waiting time

Measured output speed is 147 tokens per second for MiniMax-M3.1-Flash and 139 tokens per second for Mistral Large 4 High. Throughput is close to level. Before any text appears, MiniMax-M3.1-Flash takes 1.0 seconds and Mistral Large 4 High 1.7 seconds. MiniMax-M3.1-Flash gets to its first token 1.7 times as fast.

Add the two numbers up for a 400-token reply and MiniMax-M3.1-Flash finishes first: 3.7 seconds for MiniMax-M3.1-Flash, 4.6 seconds for Mistral Large 4 High.

Release timing

The release dates are October 19, 2026 for MiniMax-M3.1-Flash and October 29, 2026 for Mistral Large 4 High, 10 days apart. That is close enough to count them as the same generation.

Overall capability: 3.0 points apart

MiniMax-M3.1-Flash comes out ahead on the intelligence index, 29.1 to 26.1. A lead of this size is hard to dismiss as noise.

Across the 109 active models with an intelligence score in the catalogue, MiniMax-M3.1-Flash ranks 59th and Mistral Large 4 High ranks 65th.

For coding or maths work specifically, the catalogue has no dedicated index on either side yet.

Score per dollar

A blunt value measure, blended price over intelligence score, puts MiniMax-M3.1-Flash at $0.0090 and Mistral Large 4 High at $0.040 per point. With the higher score and the lower cost per point, MiniMax-M3.1-Flash is the better value per point on these numbers.