Mistral, a French AI startup, has released its latest AI model, Mistral Medium 3, which promises leading performance at a competitive price. The model is available through Mistral’s API, priced at $0.40 per million input tokens and $2 per million output tokens.
Mistral claims that Mistral Medium 3 performs “at or above” 90% of Anthropic’s more expensive Claude Sonnet 3.7 model across various benchmarks. It also outperforms recent open models, including Meta’s Llama 4 Maverick and Cohere’s Command A, on popular AI performance evaluations. To put this into perspective, a million tokens are equivalent to about 750,000 words, roughly 163,000 words longer than “War and Peace.”
Mistral Medium 3 is optimized for coding and STEM tasks and excels at multimodal understanding. The company states that clients in financial services, energy, and healthcare have been beta testing the model for use cases like customer service, workflow automation, and analyzing complex datasets. The model can be deployed on any cloud, including self-hosted environments with four GPUs and above.
In addition to Mistral’s API, where enterprise customers can work with Mistral to fine-tune the model, Mistral Medium 3 is available on Amazon’s Sagemaker platform as of Wednesday. It will soon be available on other hosts, including Microsoft’s Azure AI Foundry and Google’s Vertex AI platforms.
The launch of Mistral Medium 3 follows the release of Mistral Small 3.1 in March. Mistral has also teased the release of a much larger model in the coming weeks. On Wednesday, the company launched Le Chat Enterprise, a corporate-focused chatbot service that offers tools like an AI “agent” builder and integrates Mistral’s models with third-party services like Gmail, Google Drive, and SharePoint.
Le Chat Enterprise will soon support MCP, Anthropic’s standard for connecting AI assistants to the systems and software where data resides. Mistral has raised over €1.1 billion (roughly $1.24 billion) to date, with backing from VCs including General Catalyst. Its customers include BNP Paribas, AXA, and Mirakl.
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