MiniMax launches M3.1 Flash: 428B MoE at $0.15/M input tokens

MiniMax released M3.1 Flash, a multimodal MoE model with 428B total and ~23B active parameters and a 1M-token context. It costs $0.15 per 1M input and $0.60 per 1M output tokens, with weights due October 23, 2026.

• 428B total parameters, ~23B active, 1M-token context
• $0.15/$0.60 per 1M tokens, half of M3's rate
• Tops Automation-Bench v1.0.6 at 62.2, MiniMax-reported
• Terminal Bench 4.0 at 38.1 vs 51.8 for Opus 5