MiniMax: MiniMax M2.5

MiniMax M2.5 is a text-in, text-out model from MiniMax with a 204,800-token context window and a large output ceiling of 196,608 tokens. It supports tool use and reasoning, making it viable for agentic workflows and multi-step tasks. Structured output support is unconfirmed, so developers who depend on guaranteed JSON schemas should verify that capability independently before committing. On price, MiniMax M2.5 sits at $0.15 per million input tokens and $0.90 per million output tokens, which is competitive for models with reasoning and tool support. Its blended benchmark score of 55.4 comes from a single independent benchmark, so the performance picture is limited and not yet well-rounded. Teams comfortable with that uncertainty and prioritizing low-cost, long-context reasoning tasks have reason to shortlist it, but those needing broad, validated performance evidence should wait for wider benchmark coverage.