Both are Mistral AI models. Mistral Medium 3.5 is the newer, generally stronger default; reach for Mistral Medium 3 when its lower price or a specific cost or latency profile matters more than the latest capabilities.
Mistral Medium 3 and Mistral Medium 3.5 are both Mistral AI models, so the real question is not which lab to trust but which tier fits your workload and budget. Mistral Medium 3 is mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier. 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). Since both come from the same lab, the comparison below focuses on the tier-and-cost trade-offs that actually separate them.
Key differences
Price: Mistral Medium 3 is about 3.8× cheaper on input ($0.4/$2 per 1M tokens vs $1.5/$7.5 per 1M tokens) — meaningful once you are processing millions of tokens a month.
Context window: Mistral Medium 3.5 holds 2× more — 256K (~384 pages) vs 128K (~192 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
Recency: Mistral Medium 3.5 is the newer model by about 12 months (released April 29, 2026), usually meaning fresher training data and capabilities.
Specifications
Spec
Mistral Medium 3
Mistral Medium 3.5
Provider
Mistral AI (France)
Mistral AI (France)
Released
May 7, 2025
April 29, 2026
Context window
128K (~192 pages)
256K (~384 pages)
Price (in/out)
$0.4/$2 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
Strong cost-to-capability at $0.40/$2.00: Mistral Medium 3 — At $0.4/$2 per 1M tokens it undercuts Mistral Medium 3.5 ($1.5/$7.5 per 1M tokens), and that gap compounds at volume.
General reasoning, coding and multimodal tasks: Mistral Medium 3 — Mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier — and it runs cheaper at $0.4/$2 per 1M tokens.
Efficient mid-tier deployment for production workloads: Mistral Medium 3 — Mistral Medium 3 lists efficient mid-tier deployment for production workloads among its strengths; Mistral Medium 3.5 does not.
Strong intelligence-for-size — Artificial Analysis Intelligence Index 30, near the top of its price tier: 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 it carries the larger 256K context.
128B dense open-weight model — self-hostable: Mistral Medium 3.5 — Open weights make this possible at all — Mistral Medium 3 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 Medium 3 is comparatively weak here — a mid-tier model, not a frontier reasoner
Lowest cost at scale: Mistral Medium 3 — At $0.4/$2 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input: Mistral Medium 3.5 — Its 256K window is about 2× larger than Mistral Medium 3's 128K, fitting roughly 384 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume: Mistral Medium 3 — At $0.4/$2 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: Mistral Medium 3.5 — Larger 256K 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; Mistral Medium 3 is API-only.
Anyone whose priority is strong cost-to-capability at $0.40/$2.00: Mistral Medium 3 — 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.
Mistral Medium 3: where it fits
Mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier. Released May 7, 2025 by Mistral AI, it is built for strong cost-to-capability at $0.40/$2.00, general reasoning, coding and multimodal tasks, efficient mid-tier deployment for production workloads, and text and image input.
Its trade-offs are real: a 128K context — smaller than the 1M-window flagships here, no published SWE-Bench Verified score, a mid-tier model, not a frontier reasoner, and proprietary, unlike Mistral's open-weight releases. At $0.4 in / $2 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 29, 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
Because Mistral Medium 3 and Mistral Medium 3.5 come from the same lab (Mistral AI), they share the same training philosophy and ecosystem — the decision is purely tier vs. cost. Mistral Medium 3.5 is the more capable, more recent option; the other earns its place only when its price or latency profile fits a specific job better. Most teams should default to Mistral Medium 3.5 and drop down only with a concrete reason.
Frequently asked questions
Is Mistral Medium 3 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, Mistral Medium 3 leans toward strong cost-to-capability at $0.40/$2.00 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, Mistral Medium 3 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 Mistral Medium 3 is API-metered at $0.4/$2 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?
Mistral Medium 3.5 — 256K vs 128K, about 2× larger. Useful only if the model actually reasons over the full window, which not all do.
Should I upgrade from Mistral Medium 3 to Mistral Medium 3.5?
Since both are Mistral AI models, the newer one (Mistral Medium 3.5) is usually the better default unless you need a specific cost or latency profile from the other.
Which is newer, Mistral Medium 3 or Mistral Medium 3.5?
Mistral Medium 3.5 — released April 29, 2026, about 12 months after Mistral Medium 3.
Mistral Medium 3 vs Mistral Medium 3.5
Mistral AI · France | Mistral AI · France · Updated June 2026
Quick verdict
Both are Mistral AI models. Mistral Medium 3.5 is the newer, generally stronger default; reach for Mistral Medium 3 when its lower price or a specific cost or latency profile matters more than the latest capabilities.
Mistral Medium 3 and Mistral Medium 3.5 are both Mistral AI models, so the real question is not which lab to trust but which tier fits your workload and budget. Mistral Medium 3 is mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier. 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). Since both come from the same lab, the comparison below focuses on the tier-and-cost trade-offs that actually separate them.
Key differences at a glance
▸Price: Mistral Medium 3 is about 3.8× cheaper on input ($0.4/$2 per 1M tokens vs $1.5/$7.5 per 1M tokens) — meaningful once you are processing millions of tokens a month.
▸Context window: Mistral Medium 3.5 holds 2× more — 256K (~384 pages) vs 128K (~192 pages). But effective recall usually fades long before the advertised ceiling, so the bigger number only helps if the model reasons over it.
▸Recency: Mistral Medium 3.5 is the newer model by about 12 months (released April 29, 2026), usually meaning fresher training data and capabilities.
Side-by-side specs
Spec
Mistral Medium 3
Mistral Medium 3.5
Provider
Mistral AI (France)
Mistral AI (France)
Released
May 7, 2025
April 29, 2026
Context window
128K (~192 pages)
256K (~384 pages)
Price (in/out)
$0.4/$2 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
Strong cost-to-capability at $0.40/$2.00
Mistral Medium 3
At $0.4/$2 per 1M tokens it undercuts Mistral Medium 3.5 ($1.5/$7.5 per 1M tokens), and that gap compounds at volume.
General reasoning, coding and multimodal tasks
Mistral Medium 3
Mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier — and it runs cheaper at $0.4/$2 per 1M tokens.
Efficient mid-tier deployment for production workloads
Mistral Medium 3
Mistral Medium 3 lists efficient mid-tier deployment for production workloads among its strengths; Mistral Medium 3.5 does not.
Strong intelligence-for-size — Artificial Analysis Intelligence Index 30, near the top of its price tier
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 it carries the larger 256K context.
128B dense open-weight model — self-hostable
Mistral Medium 3.5
Open weights make this possible at all — Mistral Medium 3 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 Medium 3 is comparatively weak here — a mid-tier model, not a frontier reasoner
Lowest cost at scale
Mistral Medium 3
At $0.4/$2 per 1M tokens, it is the cheaper of the two — the gap dominates the bill on high-volume workloads.
Largest single-prompt input
Mistral Medium 3.5
Its 256K window is about 2× larger than Mistral Medium 3's 128K, fitting roughly 384 pages in one prompt.
Which should you pick?
A cost-sensitive startup shipping high volume
→ Mistral Medium 3
At $0.4/$2 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
→ Mistral Medium 3.5
Larger 256K 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; Mistral Medium 3 is API-only.
Anyone whose priority is strong cost-to-capability at $0.40/$2.00
→ Mistral Medium 3
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.
Mistral Medium 3: where it fits
Mistral's mid-tier model at $0.40/$2.00 — efficient general capability with a 128K window, below the 1M-context frontier tier. Released May 7, 2025 by Mistral AI, it is built for strong cost-to-capability at $0.40/$2.00, general reasoning, coding and multimodal tasks, efficient mid-tier deployment for production workloads, and text and image input.
Its trade-offs are real: a 128K context — smaller than the 1M-window flagships here, no published SWE-Bench Verified score, a mid-tier model, not a frontier reasoner, and proprietary, unlike Mistral's open-weight releases. At $0.4 in / $2 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 29, 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
Because Mistral Medium 3 and Mistral Medium 3.5 come from the same lab (Mistral AI), they share the same training philosophy and ecosystem — the decision is purely tier vs. cost. Mistral Medium 3.5 is the more capable, more recent option; the other earns its place only when its price or latency profile fits a specific job better. Most teams should default to Mistral Medium 3.5 and drop down only with a concrete reason.
Want both Mistral Medium 3 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.
Is Mistral Medium 3 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, Mistral Medium 3 leans toward strong cost-to-capability at $0.40/$2.00 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, Mistral Medium 3 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 Mistral Medium 3 is API-metered at $0.4/$2 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?
Mistral Medium 3.5 — 256K vs 128K, about 2× larger. Useful only if the model actually reasons over the full window, which not all do.
Should I upgrade from Mistral Medium 3 to Mistral Medium 3.5?
Since both are Mistral AI models, the newer one (Mistral Medium 3.5) is usually the better default unless you need a specific cost or latency profile from the other.
Which is newer, Mistral Medium 3 or Mistral Medium 3.5?
Mistral Medium 3.5 — released April 29, 2026, about 12 months after Mistral Medium 3.
Specifications and benchmarks reflect publicly reported figures as of June 2026 and may change as providers release updates. Always verify on your own workload.