Fugu Ultra v2.0 vs MAI-Thinking-1
Sakana AI · Global | Microsoft · US · Updated June 2026
Quick verdict
Pick Fugu Ultra v2.0 for sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the deepswe coding-repair benchmark or claims to outperform flagship models like gpt-6 astra and claude fable 5.1 despite its underlying orchestration pool reportedly excluding both of them. Pick MAI-Thinking-1 for very strong math reasoning (aime 2025 97%, aime 2026 94.5%) or microsoft's first in-house flagship reasoner, trained without openai distillation. On a tight budget at scale, MAI-Thinking-1 is the value pick.
Fugu Ultra v2.0 (Sakana AI) and MAI-Thinking-1 (Microsoft) are two of the models people most often weigh against each other in 2026. Fugu Ultra v2.0 is sakana AI's flagship multi-agent orchestration model, claiming best-or-joint-best results on 5 of 8 self-reported benchmarks against monolithic frontier models — $5/$30 per million tokens. MAI-Thinking-1 is microsoft's first fully in-house flagship reasoning model — a Claude-class reasoner built independently to cut its OpenAI dependence. They diverge most on price and context window — each quantified below from the models' real specs.
Key differences at a glance
- ▸Context window: Fugu Ultra v2.0 holds 3.9× more — 1M tokens (~1,500 pages) vs 256K (~384 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
- ▸Recency: Fugu Ultra v2.0 is the newer model by about 29 days (released September 10, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
| Spec | Fugu Ultra v2.0 | MAI-Thinking-1 |
|---|---|---|
| Provider | Sakana AI (Global) | Microsoft (US) |
| Released | September 10, 2026 | August 12, 2026 |
| Context window | 1M tokens (~1,500 pages) | 256K (~384 pages) |
| Price (in/out) | $5/$30 per 1M tokens | Not published |
| Open weight? | No — API only | No — API only |
| Modalities | text | text, code |
| SWE-Bench Verified | Not published | Not published |
| MRCR v2 @ 1M | Not published | Not published |
Who wins what
Sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the DeepSWE coding-repair benchmark
Fugu Ultra v2.0
MAI-Thinking-1 is comparatively weak here — benchmarks are largely self-reported
Claims to outperform flagship models like GPT-6 Astra and Claude Fable 5.1 despite its underlying orchestration pool reportedly excluding both of them
Fugu Ultra v2.0
Sakana AI's flagship multi-agent orchestration model, claiming best-or-joint-best results on 5 of 8 self-reported benchmarks against monolithic frontier models — $5/$30 per million tokens — and it carries the larger 1M tokens context.
1M-token context window
Fugu Ultra v2.0
Its 1M tokens window holds about 3.9× more than MAI-Thinking-1's 256K in a single prompt.
Very strong math reasoning (AIME 2025 97%, AIME 2026 94.5%)
MAI-Thinking-1
MAI-Thinking-1 lists very strong math reasoning (AIME 2025 97%, AIME 2026 94.5%) among its strengths; Fugu Ultra v2.0 does not.
Microsoft's first in-house flagship reasoner, trained without OpenAI distillation
MAI-Thinking-1
Fugu Ultra v2.0 is comparatively weak here — not a single trained model — Sakana describes Fugu as "a Multi-Agent System, Delivered as One Model" that dynamically routes tasks across a pool of other models, so head-to-head benchmark framing against monolithic frontier models should be read skeptically
Efficient reasoning at low token cost for its class
MAI-Thinking-1
Fugu Ultra v2.0 is comparatively weak here — pricing rises to roughly $10/$45 per million tokens for prompts above 272K tokens
Lowest cost at scale
MAI-Thinking-1
Its weights are open, so at volume you pay for your own hardware instead of Fugu Ultra v2.0's $5/$30 per 1M tokens.
Largest single-prompt input
Fugu Ultra v2.0
Its 1M tokens window is about 3.9× larger than MAI-Thinking-1's 256K, fitting roughly 1,500 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ MAI-Thinking-1
At Not published it undercuts Fugu Ultra v2.0, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ Fugu Ultra v2.0
Larger 1M tokens window fits more in one prompt.
Anyone whose priority is sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the deepswe coding-repair benchmark
→ Fugu Ultra v2.0
It is specifically built for that.
Anyone whose priority is very strong math reasoning (aime 2025 97%, aime 2026 94.5%)
→ MAI-Thinking-1
That is its strongest area.
Fugu Ultra v2.0: where it fits
Sakana AI's flagship multi-agent orchestration model, claiming best-or-joint-best results on 5 of 8 self-reported benchmarks against monolithic frontier models — $5/$30 per million tokens. Released September 10, 2026 by Sakana AI, it is built for sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the DeepSWE coding-repair benchmark, claims to outperform flagship models like GPT-6 Astra and Claude Fable 5.1 despite its underlying orchestration pool reportedly excluding both of them, and 1M-token context window.
Its trade-offs are real: not a single trained model — Sakana describes Fugu as "a Multi-Agent System, Delivered as One Model" that dynamically routes tasks across a pool of other models, so head-to-head benchmark framing against monolithic frontier models should be read skeptically, pricing rises to roughly $10/$45 per million tokens for prompts above 272K tokens, and benchmark comparisons against GPT-6 Astra and Claude Fable 5.1 are Sakana's own self-reported figures, not independently verified head-to-head scores. At $5 in / $30 out per million tokens, it sits in the premium price band.
MAI-Thinking-1: where it fits
Microsoft's first fully in-house flagship reasoning model — a Claude-class reasoner built independently to cut its OpenAI dependence. Released August 12, 2026 by Microsoft, it is built for very strong math reasoning (AIME 2025 97%, AIME 2026 94.5%), microsoft's first in-house flagship reasoner, trained without OpenAI distillation, efficient reasoning at low token cost for its class, and competitive with Claude Opus 4.6 on SWE-Bench Pro (vendor-reported).
Its trade-offs: closed and in private preview — no open weights, no published pricing, thin availability, and benchmarks are largely self-reported.
The bottom line for this matchup
Fugu Ultra v2.0 and MAI-Thinking-1 overlap enough that the right pick depends on your specific job. MAI-Thinking-1 costs less per token; Fugu Ultra v2.0 holds the larger context; and each leads in its own area — Fugu Ultra v2.0 for sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the deepswe coding-repair benchmark, MAI-Thinking-1 for very strong math reasoning (aime 2025 97%, aime 2026 94.5%). Rather than crowning one, run the same hard task through both once and let the results decide.
Want both Fugu Ultra v2.0 and MAI-Thinking-1 without two subscriptions? LumiChats gives you these plus 40+ models under one ₹69/day pass (about $1/day) — draft with one, cross-check with the other.
See pricingFrequently asked questions
Is Fugu Ultra v2.0 or MAI-Thinking-1 better for coding?
Public SWE-Bench figures are not available for either model, so the honest test is your own repository — run an identical real bug through both. By design, Fugu Ultra v2.0 leans toward sakana's own evaluation reports best-or-joint-best results on 5 of 8 benchmarks tested, including a 74.3 on the deepswe coding-repair benchmark while MAI-Thinking-1 leans toward very strong math reasoning (aime 2025 97%, aime 2026 94.5%), and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Fugu Ultra v2.0 or MAI-Thinking-1?
MAI-Thinking-1 is cheaper — $5/$30 per 1M tokens vs Not published.
Which has the bigger context window?
Fugu Ultra v2.0 — 1M tokens vs 256K, about 3.9× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Fugu Ultra v2.0 and MAI-Thinking-1 together?
Yes — a multi-model platform like LumiChats gives you Fugu Ultra v2.0, MAI-Thinking-1 and 40+ others under one ₹69/day pass (about $1/day), so you can draft with one and cross-check with the other instead of buying two subscriptions.
Which is newer, Fugu Ultra v2.0 or MAI-Thinking-1?
Fugu Ultra v2.0 — released September 10, 2026, about 29 days after MAI-Thinking-1.
Related comparisons
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.