DeepSeek-V3.2 (Thinking) vs o1-preview Comparison

Comparing DeepSeek-V3.2 (Thinking) and o1-preview across benchmarks, pricing, and capabilities.

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Performance Benchmarks

Comparative analysis across standard metrics

2 benchmarks

DeepSeek-V3.2 (Thinking) outperforms in 2 benchmarks (GPQA, SWE-Bench Verified), while o1-preview is better at 0 benchmarks.

DeepSeek-V3.2 (Thinking) significantly outperforms across most benchmarks.

Sat Mar 14 2026 • llm-stats.com

Arena Performance

Human preference votes

Pricing Analysis

Price comparison per million tokens

DeepSeek-V3.2 (Thinking) costs less

For input processing, DeepSeek-V3.2 (Thinking) ($0.28/1M tokens) is 53.6x cheaper than o1-preview ($15.00/1M tokens).

For output processing, DeepSeek-V3.2 (Thinking) ($0.42/1M tokens) is 142.9x cheaper than o1-preview ($60.00/1M tokens).

In conclusion, o1-preview is more expensive than DeepSeek-V3.2 (Thinking).*

* Using a 3:1 ratio of input to output tokens

Lowest available price from all providers

Sat Mar 14 2026 • llm-stats.com

DeepSeek-V3.2 (Thinking)

Input tokens$0.28

Output tokens$0.42

Best providerDeepSeek

o1-preview

Input tokens$15.00

Output tokens$60.00

Best providerOpenAI

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Context Window

Maximum input and output token capacity

DeepSeek-V3.2 (Thinking) accepts 131,072 input tokens compared to o1-preview's 128,000 tokens. DeepSeek-V3.2 (Thinking) can generate longer responses up to 65,536 tokens, while o1-preview is limited to 32,768 tokens.

DeepSeek-V3.2 (Thinking)

Input131,072 tokens

Output65,536 tokens

o1-preview

Input128,000 tokens

Output32,768 tokens

Sat Mar 14 2026 • llm-stats.com

License

Usage and distribution terms

DeepSeek-V3.2 (Thinking) is licensed under MIT, while o1-preview uses a proprietary license.

License differences may affect how you can use these models in commercial or open-source projects.

DeepSeek-V3.2 (Thinking)

MIT

Open weights

o1-preview

Proprietary

Closed source

Release Timeline

When each model was launched

DeepSeek-V3.2 (Thinking) was released on 2025-12-01, while o1-preview was released on 2024-09-12.

DeepSeek-V3.2 (Thinking) is 15 months newer than o1-preview.

DeepSeek-V3.2 (Thinking)

Dec 1, 2025

3 months ago

1.2yr newer

o1-preview

Sep 12, 2024

1.5 years ago

Knowledge Cutoff

When training data ends

Neither model specifies a knowledge cutoff date.

Unable to compare the recency of their training data.

No cutoff dates available

Provider Availability

DeepSeek-V3.2 (Thinking) is available from DeepSeek. o1-preview is available from OpenAI, Azure. The availability of providers can affect quality of the model and reliability.