AI API Token Price Decay 2022-2026: 12 Frontier Models Tracked
Per-model time-series of input and output token prices across 33 priced versions of 12 frontier model families (GPT-3.5 through GPT-5; Claude 1 through Claude Opus 4.5; Gemini 1.0 through 2.0 Flash; Llama 2/3/3.1 hosted; DeepSeek V2/V3; Mistral Large 2). Cost per a 1k-input/500-output reference task fell roughly 530x peak-to-floor between Mar 2023 and Aug 2024; Claude Opus held $15/$75 per million for 20 months across Opus 3 and Opus 4 before Opus 4.5 cut it 67%; open-weight hosted pricing leads each closed-weight cost cut by ~73 days median.