AI Token Price Index
The median list price of current AI models, per million tokens, at 3 input tokens to 1 output token. On 27 Sep 2026: frontier models $3.75 (down 9% since 13 June), workhorse models $1.13 (down 34% since 13 June) and small & fast models $0.24 (down 34% since 13 June).
Frontier median
$3.75
▼ 9% from $4.13 on 13 Jun · 10 models
Workhorse median
$1.13
▼ 34% from $1.71 on 13 Jun · 8 models
Small & fast median
$0.24
▼ 34% from $0.36 on 13 Jun · 11 models
- Frontier
- Workhorse
- Small & fast
Show the values as a table
| Date | Frontier | Workhorse | Small & fast |
|---|---|---|---|
| 13 Jun 2026 | $4.13 | $1.71 | $0.36 |
| 15 Jun 2026 | $4.13 | $1.71 | $0.36 |
| 1 Jul 2026 | $4.50 | $1.71 | $0.36 |
| 15 Jul 2026 | $4.50 | $1.71 | $0.26 |
| 1 Aug 2026 | $5.25 | $1.13 | $0.26 |
| 15 Aug 2026 | $4.50 | $1.13 | $0.26 |
| 1 Sep 2026 | $4.50 | $1.13 | $0.24 |
| 15 Sep 2026 | $3.75 | $1.13 | $0.26 |
| 27 Sep 2026 | $3.75 | $1.13 | $0.24 |
Models in the index today
Frontier
median $3.75
Workhorse
median $1.13
Method
- Blended price = (3 × input price + output price) ÷ 4, per million tokens. A 3:1 mix is typical for chat and retrieval work.
- Members are current-generation models sold by their developer at list price. We leave out previous generations, open-weight models priced by third-party hosts, specialised coding models, and models without a known release month.
- Tiers group models by intended use (frontier, workhorse, small and fast). They are our editorial grouping, not a quality score.
- The median resists outliers: one very expensive launch moves it less than an average would. It still moves when models join or leave a tier, which is part of what it measures.
- History is reconstructed from the dated launches, price changes, suspensions and retirements in our price history, so the whole series updates whenever the data does.