Mistral AI vs 
StepFun
Verdict
- StepFun's flagship leads: Step 3.5 Flash at 53.2 vs Mistral Medium 3.5 at 49.0.
- StepFun has the better model in 4 of 4 price bands.
- Mistral AI's fastest ranked model (Ministral 3 3B, 202 tok/s) beats StepFun's (Step 3.5 Flash, 171 tok/s).
- Mistral AI publishes more open-weights models (38 vs 2).
- Mistral AI ships more often: one model every 46 days against every 406.
Best model per price band
Each provider’s highest-index model below the price ceiling. Purple marks the winner of the band.
| Price band | Mistral AI | StepFun |
|---|---|---|
| Under $0.50/M | Mistral Small 4 44.8$0.262/M | Step 3.5 Flash 53.2$0.150/M |
| Under $2/M | Mistral Large 3 45.0$0.750/M | Step 3.5 Flash 53.2$0.150/M |
| Under $10/M | Mistral Medium 3.5 49.0$3.00/M | Step 3.5 Flash 53.2$0.150/M |
| Any price | Mistral Medium 3.5 49.0$3.00/M | Step 3.5 Flash 53.2$0.150/M |
Line-up
| Metric | Mistral AI | StepFun |
|---|---|---|
| Flagship index | 49.0 | 53.2 |
| Ranked models | 24 | 3 |
| Open-weights models | 38 | 2 |
| Cheapest ranked, $/M | $0.100 | $0.150 |
| Fastest ranked, tok/s | 202 | 171 |
| Release cadence, days | 46 | 406 |
| Last release | 13 Jun 2026 | 29 May 2026 |
| Next expected | 10 Jul 2026 – 16 Aug 2026 | 27 Jan 2027 – 18 Dec 2027 |
Data as of 13 Sept 2026. See Mistral AI and StepFun in full.