Xiaomi Cuts AI Model Prices 99%, Ranks Sixth on OpenRouter Amid DeepSeek Price War

DEEPSEEK-7.31%
According to South China Morning Post, Chinese AI providers are intensifying price cuts to compete with DeepSeek as the domestic market heating up. DeepSeek's V4-Pro kept API prices at about 0.03 yuan (US$0.0037) to 6 yuan (US$0.89) per million tokens following a permanent discount. Xiaomi slashed MiMo-V2.5 API prices by up to 99% on May 27, propelling the model to sixth place on OpenRouter. The model processed 1.7 trillion tokens in the seven days to Monday, up more than 999% from the prior week. MiniMax launched M3 with token-based billing and subscription options, adding to the broader price war across over 200 Chinese large language models.
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