DeepSeek’s V4-Flash model, released on Friday, is by far the least expensive to run on benchmark tests among well-known models globally, according to research firm Artificial Analysis.
The startup, which sources have said is preparing for a potential IPO, saw its R1 and V3 models become a global sensation in early 2025, triggering a selloff in global tech stocks and raising questions about the large amounts U.S. companies were spending on AI.
V4-Flash charges $0.14 per million input tokens and $0.28 per million output tokens, according to San Francisco-based Artificial Analysis.
Artificial Analysis estimated V4-Flash’s average cost at 3 cents per test, compared with 86 cents for Kimi K3, $1.86 for OpenAI’s GPT-5.6 Sol and $3.15 for Claude Fable 5.
The comparison provides a more realistic measure of value than pricing alone because it accounts for the amount of data a model must process and generate to complete a task. A model with low headline price can still prove expensive if it requires significantly more steps to produce an answer.