Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). Pick NVIDIA Nemotron 3 Ultra for the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48) or fast, efficient long-horizon agentic reasoning via a hybrid mamba-transformer design. On a tight budget at scale, NVIDIA Nemotron 3 Ultra is the value pick.
Hunyuan Hy4 Preview (Tencent, China) and NVIDIA Nemotron 3 Ultra (NVIDIA, US) line up two different AI ecosystems against each other — a comparison that is as much about cost philosophy and openness as raw capability. Hunyuan Hy4 Preview is tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. NVIDIA Nemotron 3 Ultra is nVIDIA's open-weight reasoning flagship (about 550B total, 55B active) — the most capable open model from a US lab, built for long-running agents. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences
Context window: both advertise 1M+ tokens (~1,500 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
Recency: Hunyuan Hy4 Preview is the newer model by about 3 months (released August 28, 2026), usually meaning fresher training data and capabilities.
Ecosystem: this is a China-vs-US matchup — they differ in pricing philosophy, data-residency options, and tooling ecosystems, not only benchmarks.
Specifications
Spec
Hunyuan Hy4 Preview
NVIDIA Nemotron 3 Ultra
Provider
Tencent (China)
NVIDIA (US)
Released
August 28, 2026
June 4, 2026
Context window
1M+ tokens (~1,500 pages)
1M (~1,500 pages)
Price (in/out)
$0.834/$2.501 per 1M tokens
Open weight (self-host / free)
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
GPQA Diamond (92.3): Hunyuan Hy4 Preview — Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline — and it is the newer of the two.
Terminal-Bench (85.4): Hunyuan Hy4 Preview — Hunyuan Hy4 Preview lists terminal-Bench (85.4) among its strengths; NVIDIA Nemotron 3 Ultra does not.
SWE-bench Multilingual (82.9): Hunyuan Hy4 Preview — Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; NVIDIA Nemotron 3 Ultra does not.
The most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48): NVIDIA Nemotron 3 Ultra — NVIDIA Nemotron 3 Ultra lists the most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48) among its strengths; Hunyuan Hy4 Preview does not.
Fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design: NVIDIA Nemotron 3 Ultra — NVIDIA Nemotron 3 Ultra lists fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design among its strengths; Hunyuan Hy4 Preview does not.
A fully open release — weights, training data, and recipes under a permissive license: NVIDIA Nemotron 3 Ultra — NVIDIA Nemotron 3 Ultra lists a fully open release — weights, training data, and recipes under a permissive license among its strengths; Hunyuan Hy4 Preview does not.
Lowest cost at scale: NVIDIA Nemotron 3 Ultra — Its weights are open, so at volume you pay for your own hardware instead of Hunyuan Hy4 Preview's $0.834/$2.501 per 1M tokens.
Which should you pick?
A cost-sensitive startup shipping high volume: NVIDIA Nemotron 3 Ultra — At Open weight (self-host / free) it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is gpqa diamond (92.3): Hunyuan Hy4 Preview — It is specifically built for that.
Anyone whose priority is the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48): NVIDIA Nemotron 3 Ultra — That is its strongest area.
An enterprise with regional data-residency rules: NVIDIA Nemotron 3 Ultra or Hunyuan Hy4 Preview — Origin (China vs US) affects where data is processed and which compliance regime applies — check the provider's terms for your region.
Hunyuan Hy4 Preview: where it fits
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Released August 28, 2026 by Tencent, it is built for gPQA Diamond (92.3), terminal-Bench (85.4), sWE-bench Multilingual (82.9), and large jump in long-horizon coding vs prior Hunyuan model (DeepSWE 28.0 to 64.3).
Its trade-offs are real: text-only, no native vision support, labeled a 'preview', not yet Tencent's finalized GA flagship, and sWE-Marathon score still low in absolute terms (31.9) despite a large relative jump. At $0.834 in / $2.501 out per million tokens, it sits in the budget price band.
NVIDIA Nemotron 3 Ultra: where it fits
NVIDIA's open-weight reasoning flagship (about 550B total, 55B active) — the most capable open model from a US lab, built for long-running agents. Released June 4, 2026 by NVIDIA, it is built for the most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48), fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design, a fully open release — weights, training data, and recipes under a permissive license, and strong coding for an open model (SWE-Bench Verified in the high 60s).
Its trade-offs: trails the best Chinese open models on overall intelligence, and a 550B mixture-of-experts is heavy to self-host, and the 1M context is rarely served in full. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
The bottom line for this matchup
This is less "which is smarter" and more "which ecosystem fits." Hunyuan Hy4 Preview (China) and NVIDIA Nemotron 3 Ultra (US) differ on pricing philosophy, data-residency, and tooling as much as on raw scores. NVIDIA Nemotron 3 Ultra is the cheaper option, which matters at volume. The pragmatic move is to run one real task through both and judge the outputs against your own constraints — including where your data is allowed to be processed.
Frequently asked questions
Is Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra 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, Hunyuan Hy4 Preview leans toward gpqa diamond (92.3) while NVIDIA Nemotron 3 Ultra leans toward the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48), and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra?
NVIDIA Nemotron 3 Ultra is cheaper — $0.834/$2.501 per 1M tokens vs Open weight (self-host / free).
Which has the bigger context window?
Both advertise 1M+ tokens (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Hunyuan Hy4 Preview and NVIDIA Nemotron 3 Ultra together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy4 Preview, NVIDIA Nemotron 3 Ultra 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, Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra?
Hunyuan Hy4 Preview — released August 28, 2026, about 3 months after NVIDIA Nemotron 3 Ultra.
Hunyuan Hy4 Preview vs NVIDIA Nemotron 3 Ultra
Tencent · China | NVIDIA · US · Updated June 2026
Quick verdict
Pick Hunyuan Hy4 Preview for gpqa diamond (92.3) or terminal-bench (85.4). Pick NVIDIA Nemotron 3 Ultra for the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48) or fast, efficient long-horizon agentic reasoning via a hybrid mamba-transformer design. On a tight budget at scale, NVIDIA Nemotron 3 Ultra is the value pick.
Hunyuan Hy4 Preview (Tencent, China) and NVIDIA Nemotron 3 Ultra (NVIDIA, US) line up two different AI ecosystems against each other — a comparison that is as much about cost philosophy and openness as raw capability. Hunyuan Hy4 Preview is tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. NVIDIA Nemotron 3 Ultra is nVIDIA's open-weight reasoning flagship (about 550B total, 55B active) — the most capable open model from a US lab, built for long-running agents. Their biggest split is price, and the breakdown below shows exactly how that plays out for your workload.
Key differences at a glance
▸Context window: both advertise 1M+ tokens (~1,500 pages). Tie on paper — test on your own long inputs, since usable recall varies by model.
▸Recency: Hunyuan Hy4 Preview is the newer model by about 3 months (released August 28, 2026), usually meaning fresher training data and capabilities.
▸Ecosystem: this is a China-vs-US matchup — they differ in pricing philosophy, data-residency options, and tooling ecosystems, not only benchmarks.
Side-by-side specs
Spec
Hunyuan Hy4 Preview
NVIDIA Nemotron 3 Ultra
Provider
Tencent (China)
NVIDIA (US)
Released
August 28, 2026
June 4, 2026
Context window
1M+ tokens (~1,500 pages)
1M (~1,500 pages)
Price (in/out)
$0.834/$2.501 per 1M tokens
Open weight (self-host / free)
Open weight?
Yes — self-hostable
Yes — self-hostable
Modalities
text
text, code
SWE-Bench Verified
Not published
Not published
MRCR v2 @ 1M
Not published
Not published
Who wins what
GPQA Diamond (92.3)
Hunyuan Hy4 Preview
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline — and it is the newer of the two.
Terminal-Bench (85.4)
Hunyuan Hy4 Preview
Hunyuan Hy4 Preview lists terminal-Bench (85.4) among its strengths; NVIDIA Nemotron 3 Ultra does not.
SWE-bench Multilingual (82.9)
Hunyuan Hy4 Preview
Hunyuan Hy4 Preview lists sWE-bench Multilingual (82.9) among its strengths; NVIDIA Nemotron 3 Ultra does not.
The most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48)
NVIDIA Nemotron 3 Ultra
NVIDIA Nemotron 3 Ultra lists the most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48) among its strengths; Hunyuan Hy4 Preview does not.
Fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design
NVIDIA Nemotron 3 Ultra
NVIDIA Nemotron 3 Ultra lists fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design among its strengths; Hunyuan Hy4 Preview does not.
A fully open release — weights, training data, and recipes under a permissive license
NVIDIA Nemotron 3 Ultra
NVIDIA Nemotron 3 Ultra lists a fully open release — weights, training data, and recipes under a permissive license among its strengths; Hunyuan Hy4 Preview does not.
Lowest cost at scale
NVIDIA Nemotron 3 Ultra
Its weights are open, so at volume you pay for your own hardware instead of Hunyuan Hy4 Preview's $0.834/$2.501 per 1M tokens.
Which should you pick?
A cost-sensitive startup shipping high volume
→ NVIDIA Nemotron 3 Ultra
At Open weight (self-host / free) it undercuts Hunyuan Hy4 Preview, and on millions of tokens that margin decides the monthly bill.
Anyone whose priority is gpqa diamond (92.3)
→ Hunyuan Hy4 Preview
It is specifically built for that.
Anyone whose priority is the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48)
→ NVIDIA Nemotron 3 Ultra
That is its strongest area.
An enterprise with regional data-residency rules
→ NVIDIA Nemotron 3 Ultra or Hunyuan Hy4 Preview
Origin (China vs US) affects where data is processed and which compliance regime applies — check the provider's terms for your region.
Hunyuan Hy4 Preview: where it fits
Tencent's open-sourced (Apache 2.0) next-generation Hunyuan flagship preview, released August 28, 2026 as a 770B-parameter (49B active) MoE model that helped optimize its own training pipeline. Released August 28, 2026 by Tencent, it is built for gPQA Diamond (92.3), terminal-Bench (85.4), sWE-bench Multilingual (82.9), and large jump in long-horizon coding vs prior Hunyuan model (DeepSWE 28.0 to 64.3).
Its trade-offs are real: text-only, no native vision support, labeled a 'preview', not yet Tencent's finalized GA flagship, and sWE-Marathon score still low in absolute terms (31.9) despite a large relative jump. At $0.834 in / $2.501 out per million tokens, it sits in the budget price band.
NVIDIA Nemotron 3 Ultra: where it fits
NVIDIA's open-weight reasoning flagship (about 550B total, 55B active) — the most capable open model from a US lab, built for long-running agents. Released June 4, 2026 by NVIDIA, it is built for the most capable open-weight model from a US lab (Artificial Analysis Intelligence Index of about 48), fast, efficient long-horizon agentic reasoning via a hybrid Mamba-Transformer design, a fully open release — weights, training data, and recipes under a permissive license, and strong coding for an open model (SWE-Bench Verified in the high 60s).
Its trade-offs: trails the best Chinese open models on overall intelligence, and a 550B mixture-of-experts is heavy to self-host, and the 1M context is rarely served in full. As an open-weight model, its running cost is your own hardware rather than a per-token fee.
The bottom line for this matchup
This is less "which is smarter" and more "which ecosystem fits." Hunyuan Hy4 Preview (China) and NVIDIA Nemotron 3 Ultra (US) differ on pricing philosophy, data-residency, and tooling as much as on raw scores. NVIDIA Nemotron 3 Ultra is the cheaper option, which matters at volume. The pragmatic move is to run one real task through both and judge the outputs against your own constraints — including where your data is allowed to be processed.
Want both Hunyuan Hy4 Preview and NVIDIA Nemotron 3 Ultra 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.
Is Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra 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, Hunyuan Hy4 Preview leans toward gpqa diamond (92.3) while NVIDIA Nemotron 3 Ultra leans toward the most capable open-weight model from a us lab (artificial analysis intelligence index of about 48), and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra?
NVIDIA Nemotron 3 Ultra is cheaper — $0.834/$2.501 per 1M tokens vs Open weight (self-host / free).
Which has the bigger context window?
Both advertise 1M+ tokens (~1,500 pages). Remember advertised ≠ usable: recall typically degrades before the ceiling.
Can I use both Hunyuan Hy4 Preview and NVIDIA Nemotron 3 Ultra together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy4 Preview, NVIDIA Nemotron 3 Ultra 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, Hunyuan Hy4 Preview or NVIDIA Nemotron 3 Ultra?
Hunyuan Hy4 Preview — released August 28, 2026, about 3 months after NVIDIA Nemotron 3 Ultra.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.