Hunyuan Hy4 vs Mistral Medium 3.5
Tencent · China | Mistral AI · France · Updated June 2026
Quick verdict
Pick Hunyuan Hy4 for first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview or tencent-reported gains over the preview of 19.1% on gamedev and 9.8% on gamelogic. Pick Mistral Medium 3.5 for strong intelligence-for-size — artificial analysis intelligence index 30, near the top of its price tier or 128b dense open-weight model — self-hostable. Choose Mistral Medium 3.5 if you need self-hosting or data privacy; Hunyuan Hy4 if you want a managed API.
Hunyuan Hy4 (Tencent, China) and Mistral Medium 3.5 (Mistral AI, France) 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 is tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public. Mistral Medium 3.5 is mistral's efficient 128B open-weight model — a single dense model unifying reasoning and coding that punches above its size on independent tests (AA Index 30). They diverge most on price, context window and open vs. closed weights — each quantified below from the models' real specs.
Key differences at a glance
- ▸Price: Hunyuan Hy4 is about 1.7× cheaper on input ($0.9/$2.7 per 1M tokens vs $1.5/$7.5 per 1M tokens) — modest, but it adds up at steady volume.
- ▸Context window: Hunyuan Hy4 holds 4.1× more — 1M tokens (~1,573 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: Hunyuan Hy4 is the newer model by about 6 months (released November 4, 2026), usually meaning fresher training data and capabilities.
- ▸Ecosystem: this is a China-vs-France matchup — they differ in pricing philosophy, data-residency options, and tooling ecosystems, not only benchmarks.
Side-by-side specs
| Spec | Hunyuan Hy4 | Mistral Medium 3.5 |
|---|---|---|
| Provider | Tencent (China) | Mistral AI (France) |
| Released | November 4, 2026 | April 28, 2026 |
| Context window | 1M tokens (~1,573 pages) | 256K (~384 pages) |
| Price (in/out) | $0.9/$2.7 per 1M tokens | $1.5/$7.5 per 1M tokens |
| Open weight? | No — API only | Yes — self-hostable |
| Modalities | text, image, code | text, image, code |
| SWE-Bench Verified | Not published | Not published |
| MRCR v2 @ 1M | Not published | Not published |
Who wins what
First Hunyuan model with vision and computer use, adding image input to the text-only Hy4 Preview
Hunyuan Hy4
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public — and it runs cheaper at $0.9/$2.7 per 1M tokens.
Tencent-reported gains over the preview of 19.1% on GameDev and 9.8% on GameLogic
Hunyuan Hy4
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public — and it carries the larger 1M tokens context.
Tencent-reported financial evaluation of 3.04, ahead of DeepSeek V4.1 Flash 1017 at 2.97
Hunyuan Hy4
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public — and it is the newer of the two.
Strong intelligence-for-size — Artificial Analysis Intelligence Index 30, near the top of its price tier
Mistral Medium 3.5
Hunyuan Hy4 is comparatively weak here — sources differ on list price: Tencent says about $0.90/$2.70, while OpenRouter and Vals show $0.83/$2.50
128B dense open-weight model — self-hostable
Mistral Medium 3.5
Open weights make this possible at all — Hunyuan Hy4 is API-only, so it cannot leave the vendor's servers.
Unifies reasoning and coding into one model with an adjustable reasoning effort
Mistral Medium 3.5
Mistral's efficient 128B open-weight model — a single dense model unifying reasoning and coding that punches above its size on independent tests (AA Index 30) — and its weights are open while Hunyuan Hy4 is API-only.
Lowest cost at scale
Hunyuan Hy4
At $0.9/$2.7 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input
Hunyuan Hy4
Its 1M tokens window is about 4.1× larger than Mistral Medium 3.5's 256K, fitting roughly 1,573 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ Hunyuan Hy4
At $0.9/$2.7 per 1M tokens it undercuts Mistral Medium 3.5, and on millions of tokens that margin decides the monthly bill.
Someone analysing very long documents or codebases
→ Hunyuan Hy4
Larger 1M tokens window fits more in one prompt.
A team with data-privacy or self-hosting needs
→ Mistral Medium 3.5
Open weights let you run it on your own hardware; Hunyuan Hy4 is API-only.
Anyone whose priority is first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview
→ Hunyuan Hy4
It is specifically built for that.
Anyone whose priority is strong intelligence-for-size — artificial analysis intelligence index 30, near the top of its price tier
→ Mistral Medium 3.5
That is its strongest area.
An enterprise with regional data-residency rules
→ Mistral Medium 3.5 or Hunyuan Hy4
Origin (China vs France) affects where data is processed and which compliance regime applies — check the provider's terms for your region.
Hunyuan Hy4: where it fits
Tencent's November 4, 2026 full Hy4 release - a 1M-context model that adds vision and computer use at about $0.90/$2.70, with weights promised but not yet public. Released November 4, 2026 by Tencent, it is built for first Hunyuan model with vision and computer use, adding image input to the text-only Hy4 Preview, tencent-reported gains over the preview of 19.1% on GameDev and 9.8% on GameLogic, tencent-reported financial evaluation of 3.04, ahead of DeepSeek V4.1 Flash 1017 at 2.97, and about $0.90/$2.70 per million tokens, with 50% off on Tencent Cloud TokenHub through December 31, 2026 (OpenRouter lists $0.417/$1.25 with that discount).
Its trade-offs are real: weights not public as of November 5, 2026 - Tencent says weights and system cards will come in the coming days, and no license is announced yet, only the earlier Hy4 Preview is downloadable today (Apache 2.0), published improvements are Tencent's own and mostly relative to the preview, with no SWE-bench Verified figure, and sources differ on list price: Tencent says about $0.90/$2.70, while OpenRouter and Vals show $0.83/$2.50. At $0.9 in / $2.7 out per million tokens, it sits in the budget price band.
Mistral Medium 3.5: where it fits
Mistral's efficient 128B open-weight model — a single dense model unifying reasoning and coding that punches above its size on independent tests (AA Index 30). Released April 28, 2026 by Mistral AI, it is built for strong intelligence-for-size — Artificial Analysis Intelligence Index 30, near the top of its price tier, 128B dense open-weight model — self-hostable, unifies reasoning and coding into one model with an adjustable reasoning effort, and 256K context with text and image input.
Its trade-offs: below the absolute frontier — a value/efficiency pick, not a flagship-beater, output pricing ($7.50/M) is higher than the cheapest Chinese rivals, license framing ('open' vs enterprise) varies across sources — confirm terms for commercial use, and no native video or audio. At $1.5 in / $7.5 out per million tokens, it sits in the mid price band.
The bottom line for this matchup
The defining split here is open vs. closed. Mistral Medium 3.5 gives you weights you control — self-host it, fine-tune it, keep data in-house, pay only for hardware. Hunyuan Hy4 gives you a managed, always-updated API with no infrastructure to run. Teams with GPUs, privacy requirements, or huge volume often favour the open model; teams that want zero ops and the latest capabilities favour the closed one. Capability is close enough that this operational question, not the benchmark, usually decides it.
Want both Hunyuan Hy4 and Mistral Medium 3.5 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 Hunyuan Hy4 or Mistral Medium 3.5 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 leans toward first hunyuan model with vision and computer use, adding image input to the text-only hy4 preview while Mistral Medium 3.5 leans toward strong intelligence-for-size — artificial analysis intelligence index 30, near the top of its price tier, and that positioning usually predicts which feels better on your codebase.
Which is cheaper, Hunyuan Hy4 or Mistral Medium 3.5?
Mistral Medium 3.5 is open-weight, so self-hosting means no per-token fee (you pay for hardware instead), while Hunyuan Hy4 is API-metered at $0.9/$2.7 per 1M tokens. For most teams without GPUs, the API model is cheaper to start; at very high volume, self-hosting can win.
Which has the bigger context window?
Hunyuan Hy4 — 1M tokens vs 256K, about 4.1× larger. Useful only if the model actually reasons over the full window, which not all do.
Can I use both Hunyuan Hy4 and Mistral Medium 3.5 together?
Yes — a multi-model platform like LumiChats gives you Hunyuan Hy4, Mistral Medium 3.5 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 or Mistral Medium 3.5?
Hunyuan Hy4 — released November 4, 2026, about 6 months after Mistral Medium 3.5.
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.