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MiniMax M2 vs Mistral Large 4

Mistral Large 4 leads MiniMax M2 on the Artificial Analysis Intelligence Index, 38.4 to 18.6, and MiniMax M2 costs 4.1x less per output token ($1.02 vs $4.18 per million). Updated October 22, 2026; 36 benchmarks have a result for both.

Replace MiniMax M2 Replace Mistral Large 4
MiniMax M2MiniMax
Coding
No data
Overall
No data
Output $/M
$1.02
0
Mistral Large 4Mistral AI
Coding
56.4
Overall
54.6
Output $/M
$4.18
36
vs boards won of 36 shared

MiniMax M2 or Mistral Large 4: which to pick

Only Mistral Large 4 has a coding score, 56.4 on the Vibe Coding Index; MiniMax M2 has none, so the two cannot be ranked on coding.

Pick MiniMax M2 for output tokens 4.1x cheaper ($1.02 vs $4.18 per million).

Model AMiniMax M2MiniMaxNot benchmarked1 independent benchmark$0.702 per solved taskModel BMistral Large 4Mistral AI56.4/1005 independent benchmarksNo cost per solved task
Shared results
36
MiniMax M2 only
14
Mistral Large 4 only
45
Like-for-like categories
7 of 9

Only benchmarks that tested both models count toward a pick; a result only one model has is shown but not compared.

Which one for your work

Each card is decided by one number both models carry. Where only one has it, the card says so and makes no call.

At a glance

Coding index
MiniMax M2 not benchmarked, Mistral Large 4 56.4 from 5 benchmarks.
Widest category
Coding, 24.7 points apart on average over 4 shared benchmarks.
Widest single gap
LMArena WebDev: MiniMax M2 1297 against Mistral Large 4 1543, 35.1 points apart on a 0 to 100 scale.
Output price
MiniMax M2 $1.02 against Mistral Large 4 $4.18 per million output tokens, 4.1x apart.
Context window
MiniMax M2 takes 205K tokens, Mistral Large 4 1.05M.

Benchmark by benchmark

First the score: boards each model leads, per category, where both have a result. Then every board, a category to a fold; bars are each result on a 0 to 100 scale, so compare the two in a row, not one row with another.

Boards won, where both have a result
CategoryMiniMax M2BarsMistral Large 4Ties
Coding04
Intelligence01
Reasoning04
Math02
Knowledge04
Web design07
General014
All shared boards036
CodingLike-for-likeSix of these boards feed the Vibe Coding Index04
Coding benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
SWE-bench Verified61.0%Not measuredOnly MiniMax M2 measured
LiveBench codingNot measured60.0%Only Mistral Large 4 measured
LMArena WebDev12971543Mistral Large 4
Terminal-Bench 4 (Vals AI)Not measured27.8%Only Mistral Large 4 measured
Vibe Code Bench (Vals AI)Not measured78.4%Only Mistral Large 4 measured
Code migration (Vals AI)Not measured30.6%Only Mistral Large 4 measured
IOI (Vals AI)Not measured45.3%Only Mistral Large 4 measured
SWE-bench Multimodal (Vals AI)Not measured33.1%Only Mistral Large 4 measured
Vibe Code Bench 1-100 (Vals AI)Not measured14.3%Only Mistral Large 4 measured
LiveCodeBench (Artificial Analysis run)82.6%Not measuredOnly MiniMax M2 measured
SciCodeNot measured54.2%Only Mistral Large 4 measured
Terminal-Bench Hard (Artificial Analysis run)25.8%Not measuredOnly MiniMax M2 measured
Terminal-Bench30.0%Not measuredOnly MiniMax M2 measured
FrontierCodeNot measured39.4%Only Mistral Large 4 measured
ALE-BenchNot measured1213.2Only Mistral Large 4 measured
LMArena Text: coding13711478Mistral Large 4
LMArena Text: software and IT13731467Mistral Large 4
LMArena WebDev: ReactNot measured1559Only Mistral Large 4 measured
LMArena WebDev: HTML13061487Mistral Large 4
Neither model has a result on the other 20 boards here
IntelligenceLike-for-likePublic boards, shown as published, kept out of the index01
Intelligence benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
AA Intelligence Index18.638.4Mistral Large 4
Epoch Capabilities IndexNot measured150.0Only Mistral Large 4 measured
Agentic workDirectional onlyPublic boards, shown as published, kept out of the index11 boards, none shared
Agentic work benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
LiveBench researchNot measured28.1%Only Mistral Large 4 measured
LiveBench browserNot measured8.0%Only Mistral Large 4 measured
LiveBench long agenticNot measured11.8%Only Mistral Large 4 measured
Finance Agent (Vals AI)Not measured54.7%Only Mistral Large 4 measured
Tax Agent Bench (Vals AI)Not measured30.4%Only Mistral Large 4 measured
Legal Research Bench (Vals AI)Not measured31.7%Only Mistral Large 4 measured
Harvey's Legal Agent Benchmark (Vals AI)Not measured17.5%Only Mistral Large 4 measured
Excel Modeling Benchmark (Vals AI)Not measured56.2%Only Mistral Large 4 measured
BioMysteryBench (Vals AI)Not measured67.0%Only Mistral Large 4 measured
τ²-Bench Telecom86.8%Not measuredOnly MiniMax M2 measured
Vending-Bench 2$161Not measuredOnly MiniMax M2 measured
Neither model has a result on the other 30 boards here
ReasoningLike-for-likePublic boards, shown as published, kept out of the index04
Reasoning benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
LiveBench reasoningNot measured83.9%Only Mistral Large 4 measured
MysteryMechanism (Vals AI)Not measured12.2%Only Mistral Large 4 measured
GPQA Diamond (Artificial Analysis run)77.7%Not measuredOnly MiniMax M2 measured
Humanity's Last Exam (Artificial Analysis run)13.7%35.0%Mistral Large 4
GPQA Diamond (Epoch AI run)Not measured88.1%Only Mistral Large 4 measured
Chess puzzlesNot measured33.0%Only Mistral Large 4 measured
Mystery game puzzlesNot measured17.0%Only Mistral Large 4 measured
LMArena Text: hard prompts13571444Mistral Large 4
LMArena Text: expert13381444Mistral Large 4
LMArena Text: hard prompts in English13761442Mistral Large 4
LMArena Vision: diagramsNot measured1288Only Mistral Large 4 measured
Kagi LLM Benchmark57.8%Not measuredOnly MiniMax M2 measured
Neither model has a result on the other 10 boards here
MathLike-for-likePublic boards, shown as published, kept out of the index02
Math benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
AA Math Index78.3Not measuredOnly MiniMax M2 measured
AIME 2025 (Artificial Analysis run)78.3%Not measuredOnly MiniMax M2 measured
OTIS Mock AIMENot measured98.3%Only Mistral Large 4 measured
FrontierMath, tiers 1 to 3Not measured58.6%Only Mistral Large 4 measured
FrontierMath, tier 4Not measured26.8%Only Mistral Large 4 measured
ProofBenchNot measured10.0%Only Mistral Large 4 measured
LMArena Text: math13511469Mistral Large 4
LMArena Text: mathematical work13681462Mistral Large 4
Neither model has a result on the other 5 boards here
KnowledgeLike-for-likePublic boards, shown as published, kept out of the index04
Knowledge benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
MedCode (Vals AI)Not measured40.7%Only Mistral Large 4 measured
MMLU Pro (Artificial Analysis run)82.0%Not measuredOnly MiniMax M2 measured
SimpleQA VerifiedNot measured20.0%Only Mistral Large 4 measured
LMArena Text: science13481448Mistral Large 4
LMArena Text: medicine and healthcare13671433Mistral Large 4
LMArena Text: legal and government13491425Mistral Large 4
LMArena Text: business and finance13361439Mistral Large 4
Neither model has a result on the other 11 boards here
Web designLike-for-likePublic boards, shown as published, kept out of the index07
Web design benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
Design Arena: websites11431257Mistral Large 4
Design Arena: UI components11371272Mistral Large 4
Design Arena: game dev11181225Mistral Large 4
Design Arena: data viz11401275Mistral Large 4
Design Arena: 3D10981252Mistral Large 4
Design Arena: all code categories11351259Mistral Large 4
Design Arena: SVG11001232Mistral Large 4
Design Arena: ASCII artNot measured1202Only Mistral Large 4 measured
LiveBench designNot measured65.6%Only Mistral Large 4 measured
GeneralLike-for-likePublic boards, shown as published, kept out of the index014
General benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
LiveBench data analysisNot measured76.5%Only Mistral Large 4 measured
MedScribe (Vals AI)Not measured80.4%Only Mistral Large 4 measured
IFBench72.3%Not measuredOnly MiniMax M2 measured
Long context reasoning (AA-LCR)64.3%81.3%Mistral Large 4
DTBenchNot measured88.2%Only Mistral Large 4 measured
LMCANot measured35.8%Only Mistral Large 4 measured
Surface Evolver BenchNot measured28.1%Only Mistral Large 4 measured
Furniture assemblyNot measured20.8%Only Mistral Large 4 measured
LMArena Text13401431Mistral Large 4
LMArena Text: instruction following13291422Mistral Large 4
LMArena Text: creative writing12861363Mistral Large 4
LMArena VisionNot measured1272Only Mistral Large 4 measured
LMArena Text: English13641433Mistral Large 4
LMArena Text: non-English13131422Mistral Large 4
LMArena Text: Chinese13661492Mistral Large 4
LMArena Text: German1357Not measuredOnly MiniMax M2 measured
LMArena Text: JapaneseNot measured1415Only Mistral Large 4 measured
LMArena Text: French13361492Mistral Large 4
LMArena Text: Spanish13261455Mistral Large 4
LMArena Text: Russian13301417Mistral Large 4
LMArena Text: Polish1312Not measuredOnly MiniMax M2 measured
LMArena Text: multi-turn13611435Mistral Large 4
LMArena Text: longer queries13311428Mistral Large 4
LMArena Text: writing and language12951386Mistral Large 4
LMArena Text: entertainment and media12981378Mistral Large 4
LMArena Vision: EnglishNot measured1283Only Mistral Large 4 measured
LMArena Vision: reading textNot measured1284Only Mistral Large 4 measured
Neither model has a result on the other 19 boards here
Image generationNot comparablePublic boards, shown as published, kept out of the index0 boards, none shared
Image generation benchmarks for MiniMax M2 and Mistral Large 4
BenchmarkMiniMax M2Mistral Large 4Leader
Neither model has a result on 5 boards here

What each workload costs

Three fixed token mixes at each model's listed price, so per-token rates become a bill.

Chat turn

1K input + 500 output tokens

MiniMax M2$0.0008Fits in one request
Mistral Large 4$0.0034Fits in one request

MiniMax M2 costs less

Repository review

50K input + 3K output tokens

MiniMax M2$0.016Fits in one request
Mistral Large 4$0.081Fits in one request

MiniMax M2 costs less

Agent loop

200K input + 10K output tokens

MiniMax M2$0.061Exceeds the context window
Mistral Large 4$0.314Fits in one request

MiniMax M2 costs less

Listed OpenRouter rates, without cache or batch discounts. A workload that does not fit a model's context window would need splitting.

Specification differences

The leading value in a row is marked; a row with a missing value names no leader. Our two rows are marked in red.

Specifications of MiniMax M2 and Mistral Large 4
SpecificationMiniMax M2Mistral Large 4
MakerMiniMaxMistral AI
WeightsOpen weightsNo public weights listed
ReleasedOctober 23, 2025October 6, 2026
Context window205K1.05M
Input $/Mtok$0.255$1.36
Output $/Mtok$1.02$4.18
Coding indexNot benchmarked56.4
Independent measurements behind it15
Cost per solved task$0.702Not computable
SourceOpenRouter listingOpenRouter listing

Questions

Is MiniMax M2 better than Mistral Large 4 for coding?

Only Mistral Large 4 has a coding score, 56.4 on the Vibe Coding Index; MiniMax M2 has none, so the two cannot be ranked on coding. Pick MiniMax M2 for output tokens 4.1x cheaper ($1.02 vs $4.18 per million).

Which is cheaper, MiniMax M2 or Mistral Large 4?

MiniMax M2 costs $0.255 per million input tokens and $1.02 per million output tokens; Mistral Large 4 costs $1.36 and $4.18. Cost per solved task is known for MiniMax M2 only.

Which has the bigger context window, MiniMax M2 or Mistral Large 4?

Mistral Large 4, with 1.05M tokens against 205K.

How many benchmarks is the MiniMax M2 vs Mistral Large 4 comparison based on?

36 benchmarks have a result for both models as of October 22, 2026. MiniMax M2's coding index rests on 1 independent benchmark and Mistral Large 4's on 5. Where only one model has a result, the page says so instead of naming a winner.

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