Model Comparison

GPT-5.4 vs Mistral Large 2Which is better in 2026?

Comparing GPT-5.4 and Mistral Large 2 across benchmarks, pricing, and capabilities.

Verdict: GPT-5.4 vs Mistral Large 2 — which is better?

GPT-5.4 (by OpenAI) and Mistral Large 2 (by Mistral AI) are two of the AI models people compare most. Here is how they stack up on benchmarks, price and capabilities, and which one to pick in 2026.

On price, Mistral Large 2 is roughly 1.9x cheaper per token on a blended 3:1 input/output basis, which adds up quickly at production volume.

GPT-5.4 also accepts a larger context window (1,000,000 input tokens), making it the stronger choice for long documents and large codebases.

Choose GPT-5.4 if…

  • you process long inputs — it offers a 1,000,000 token context window
  • you want the most recent training data — it shipped Mar 2026

Choose Mistral Large 2 if…

  • cost matters — it's about 1.9x cheaper per token
  • you need open weights you can self-host or fine-tune
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Performance Benchmarks

Comparative analysis across standard metrics

No common benchmarks found

GPT-5.4 and Mistral Large 2 don't have any common benchmark datasets to compare. They may have been evaluated on different testing suites.

Arena Performance

Human preference votes

Pricing Analysis

Price comparison per million tokens

Mistral Large 2 costs less

For input processing, GPT-5.4 ($2.50/1M tokens) is 1.3x more expensive than Mistral Large 2 ($2.00/1M tokens).

For output processing, GPT-5.4 ($15.00/1M tokens) is 2.5x more expensive than Mistral Large 2 ($6.00/1M tokens).

In conclusion, GPT-5.4 is more expensive than Mistral Large 2.*

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

Lowest available price from all providers
Sat Jun 06 2026 • llm-stats.com
OpenAI
GPT-5.4
Input tokens$2.50
Output tokens$15.00
Best providerOpenAI
Mistral AI
Mistral Large 2
Input tokens$2.00
Output tokens$6.00
Best providerGoogle
Notice missing or incorrect data?Start an Issue→

Context Window

Maximum input and output token capacity

GPT-5.4 accepts 1,000,000 input tokens compared to Mistral Large 2's 128,000 tokens. Both models can generate responses up to 128,000 tokens.

OpenAI
GPT-5.4
Input1,000,000 tokens
Output128,000 tokens
Mistral AI
Mistral Large 2
Input128,000 tokens
Output128,000 tokens
Sat Jun 06 2026 • llm-stats.com

Input Capabilities

Supported data types and modalities

GPT-5.4 supports multimodal inputs, whereas Mistral Large 2 does not.

GPT-5.4 can handle both text and other forms of data like images, making it suitable for multimodal applications.

GPT-5.4

Text
Images
Audio
Video

Mistral Large 2

Text
Images
Audio
Video

License

Usage and distribution terms

GPT-5.4 is licensed under a proprietary license, while Mistral Large 2 uses Mistral Research License.

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

GPT-5.4

Proprietary

Closed source

Mistral Large 2

Mistral Research License

Open weights

Release Timeline

When each model was launched

GPT-5.4 was released on 2026-03-05, while Mistral Large 2 was released on 2024-07-24.

GPT-5.4 is 20 months newer than Mistral Large 2.

GPT-5.4

Mar 5, 2026

3 months ago

1.6yr newer
Mistral Large 2

Jul 24, 2024

1.9 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

GPT-5.4 is available from OpenAI. Mistral Large 2 is available from Google, Mistral AI.

GPT-5.4

openai logo
OpenAI
Input Price:Input: $2.50/1MOutput Price:Output: $15.00/1M

Mistral Large 2

google logo
Google
Input Price:Input: $2.00/1MOutput Price:Output: $6.00/1M
mistral logo
Mistral
Input Price:Input: $2.00/1MOutput Price:Output: $6.00/1M
* Prices shown are per million tokens

Outputs Comparison

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Key Takeaways

OpenAI
Larger context window (1,000,000 tokens)
Supports multimodal inputs
Mistral AI
Less expensive input tokens
Less expensive output tokens
Has open weights

Detailed Comparison

AI Model Comparison Table
Feature
OpenAI
GPT-5.4
Mistral AI
Mistral Large 2

FAQ

Common questions about GPT-5.4 vs Mistral Large 2.

Which is better, GPT-5.4 or Mistral Large 2?

GPT-5.4 (OpenAI) and Mistral Large 2 (Mistral AI) each have strengths in different areas. Compare their benchmark scores, pricing, context windows, and capabilities above to determine which fits your needs.

How does GPT-5.4 compare to Mistral Large 2 in benchmarks?

GPT-5.4 scores Tau2 Telecom: 98.9%, ARC-AGI: 93.7%, Graphwalks BFS <128k: 93.0%, GPQA: 92.8%, Graphwalks parents <128k: 89.8%. Mistral Large 2 scores GSM8k: 93.0%, HumanEval: 92.0%, MT-Bench: 86.3%, MMLU: 84.0%, MMLU French: 82.8%.

Is GPT-5.4 cheaper than Mistral Large 2?

Mistral Large 2 is 1.3x cheaper for input tokens. GPT-5.4 costs $2.50/M input and $15.00/M output via openai. Mistral Large 2 costs $2.00/M input and $6.00/M output via google.

What are the context window sizes for GPT-5.4 and Mistral Large 2?

GPT-5.4 supports 1.0M tokens and Mistral Large 2 supports 128K tokens. A larger context window lets you process longer documents, conversations, or codebases in a single request.

What are the main differences between GPT-5.4 and Mistral Large 2?

Key differences include context window (1.0M vs 128K), input pricing ($2.50 vs $2.00/M), multimodal support (yes vs no), licensing (Proprietary vs Mistral Research License). See the full comparison above for benchmark-by-benchmark results.

Who makes GPT-5.4 and Mistral Large 2?

GPT-5.4 is developed by OpenAI and Mistral Large 2 is developed by Mistral AI.

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