Mistral Large 3 vs Nova 2 Lite vs Qwen3.5 122B-A10B
Nova 2 Lite comes out ahead, 61 to 54 and 52 on our weighted score, though Mistral Large 3 is 16% cheaper per token.
Mistral AIMistral Large 3
52/100- ECI—
- Price$0.50 / $1.50
- Context262K
- Our pick
AmazonNova 2 Lite
61/100- ECI—
- Price$0.315 / $2.63
- Context1M
Alibaba (Qwen)Qwen3.5 122B-A10B
54/100- ECI—
- Price$0.40 / $3.20
- Context262K
Nova 2 Lite is our pick
Nova 2 Lite is the better all-round choice, scoring 61/100 against Qwen3.5 122B-A10B (54) and Mistral Large 3 (52). It leads on context window. Mistral Large 3 wins on price. The score weighs price 50%, inputs & features 30%, context window 20%. None of the shared benchmarks cover every model here yet, so capability is left out of this verdict.
- CapabilityNot enough dataNo independent benchmark covers every model here yet
- Lowest priceMistral Large 3Mistral Large 3 $0.75 · Nova 2 Lite $0.892 · Qwen3.5 122B-A10B $1.10 per 1M tokens (3:1 blend)
- Longest contextNova 2 LiteNova 2 Lite 1,000,000 · Mistral Large 3 262,144 · Qwen3.5 122B-A10B 262,144 tokens
- Widest inputsNova 2 LiteMistral Large 3: Text, Images · Nova 2 Lite: Text, Images, PDFs, Video · Qwen3.5 122B-A10B: Text, Images, Video
- Self-hostingMistral Large 3 and Qwen3.5 122B-A10BPublishes downloadable weights
| Measure | Weight | Mistral Large 3 | Nova 2 Lite | Qwen3.5 122B-A10B |
|---|---|---|---|---|
| Price | 50% | 53 | 50 | 46 |
| Inputs & features | 30% | 60 | 80 | 80 |
| Context window | 20% | 37 | 60 | 37 |
| Overall | 100% | 52/100 | 61/100 | 54/100 |
Left out because at least one model lacks the data: capability. The remaining weights were rescaled.
Every spec in one table
Highlighted cells lead their row. Dashes mean the data is not published.
| Specification | Mistral Large 3Mistral AI | Nova 2 LiteAmazon | Qwen3.5 122B-A10BAlibaba (Qwen) |
|---|---|---|---|
| Capability | |||
| Capabilities Index (ECI) | — | — | — |
| ECI rank | — | — | — |
| Price per million tokens | |||
| Input | $0.50 | $0.315 (best) | $0.40 |
| Output | $1.50 (best) | $2.63 | $3.20 |
| Cached input | $0.05 | — | — |
| Blended (3:1) | $0.75 (best) | $0.892 | $1.10 |
| Long-context rate | Same rate | Same rate | Same rate |
| Price source | Official Mistral API | Median of 6 providers | Official Alibaba API |
| Limits | |||
| Context window | 262,144 tokens | 1,000,000 tokens (best) | 262,144 tokens |
| Max output | 262,144 tokens (best) | 65,536 tokens | 65,536 tokens |
| Inputs and features | |||
| Text | Yes | Yes | Yes |
| Images | Yes | Yes | Yes |
| PDFs | No | Yes | No |
| Audio | No | No | No |
| Video | No | Yes | Yes |
| Reasoning | No | Yeslow · medium · high | Yes |
| Tool calling | Yes | Yes | Yes |
| Structured output | Yes | No | Yes |
| Availability | |||
| Weights | Open | Proprietary | Open |
| API model ID | mistral-large-2512 | nova-2-lite-v1 | qwen3.5-122b-a10b |
| API providers | 17 | 8 | 22 (best) |
| Released | Dec 2, 2025 | Dec 2, 2025 | Feb 23, 2026 |
| Knowledge cutoff | Nov 2024 | Oct 2025 | — |
What would a month cost?
Enter your expected volume in millions of tokens. List prices only; caching and batch discounts would lower these.
- Mistral Large 3$8.00
- Nova 2 Lite$8.40
- Qwen3.5 122B-A10B$10.40
Which should you choose?
Which is better: Mistral Large 3, Nova 2 Lite or Qwen3.5 122B-A10B?
Nova 2 Lite is the better all-round choice, scoring 61/100 against Qwen3.5 122B-A10B (54) and Mistral Large 3 (52). It leads on context window. Mistral Large 3 wins on price. The score weighs price 50%, inputs & features 30%, context window 20%. None of the shared benchmarks cover every model here yet, so capability is left out of this verdict.
Which is cheaper, Mistral Large 3, Nova 2 Lite or Qwen3.5 122B-A10B?
Mistral Large 3 is cheaper at $0.50 input / $1.50 output per million tokens (official Mistral API price). Nova 2 Lite costs $0.315 input / $2.63 output per million tokens (median across 6 API providers; free on Nova); Qwen3.5 122B-A10B costs $0.40 input / $3.20 output per million tokens (official Alibaba API price). At a typical mix of three input tokens to one output token, that is $0.75 per million tokens for Mistral Large 3 versus $0.892 for Nova 2 Lite (1.2× as much) and $1.10 for Qwen3.5 122B-A10B (1.5× as much).
Which scores higher on benchmarks?
There is no independent benchmark that covers all three models yet. Mistral Large 3 has not been scored yet, Nova 2 Lite has not been scored yet and Qwen3.5 122B-A10B has not been scored yet.
Which is better for coding?
There are no published SWE-bench Verified results for Mistral Large 3, Nova 2 Lite and Qwen3.5 122B-A10B yet, so there is no like-for-like coding score. Test both on a sample of your own tasks. All three support tool calling for agent workflows.
Which has the bigger context window?
Nova 2 Lite has the largest context window at 1,000,000 tokens, against 262,144 for Mistral Large 3 and 262,144 for Qwen3.5 122B-A10B. Maximum output per response: Mistral Large 3 up to 262,144, Nova 2 Lite up to 65,536, Qwen3.5 122B-A10B up to 65,536 tokens.
Which can read images, PDFs, audio or video?
Mistral Large 3 accepts text and images; Nova 2 Lite accepts text, images, PDFs and video; Qwen3.5 122B-A10B accepts text, images and video. Nova 2 Lite handles the widest range of inputs.
Are any of these open source?
Mistral Large 3 and Qwen3.5 122B-A10B publishes its weights and can be self-hosted; Nova 2 Lite is proprietary.
Which is newer?
Qwen3.5 122B-A10B is the newest, released Feb 23, 2026. Mistral Large 3 came out Dec 2, 2025; Nova 2 Lite came out Dec 2, 2025. Knowledge cutoff: Mistral Large 3 Nov 2024, Nova 2 Lite Oct 2025.
How do you decide the winner?
Each model gets a 0–100 score on capability (50%, independent benchmark results); price (25%, blended price per million tokens (3 input : 1 output), log scale); inputs & features (15%, image, PDF, audio and video input, tool calling, structured output and reasoning); context window (10%, maximum tokens per request, log scale). Dimensions missing for any model are dropped and the remaining weights rescaled, so every model is judged on the same evidence. Specs and prices come from public model listings and the labs’ own API pages; capability scores come from independent benchmark runs. Data updated Nov 2, 2026.
