OpenAI's o3-mini and DeepSeek's R1 models pricing structures

OpenAI’s o3-mini and DeepSeek’s R1 models have significantly different pricing structures, with DeepSeek R1 being considerably more cost-effective:

1. o3-mini pricing:
   • Input tokens: $1.10 per million tokens5
   • Output tokens: $4.40 per million tokens5

2. DeepSeek R1 pricing:
   • Input tokens: $0.14 per million tokens5
   • Output tokens: $0.55 per million tokens5

Comparing the two:

• DeepSeek R1 is approximately 87% cheaper than o3-mini for both input and output tokens5.
• Even with o3-mini’s 50% cache discount, it remains nearly 4 times more expensive than R1’s undiscounted rates5.