OpenAI made o3-mini reasoning API generally available with flexible reasoning effort tiers (low/medium/high) at $1.10/1M input.
Key Takeaways
- ✓Reaches 71.2% on SWE-bench Verified, rivaling human grandmaster algorithm performance
- ✓Dynamic `reasoning_effort` parameter balances millisecond completion with deep architectural synthesis
- ✓Full Prompt Caching support dropping cached token cost to $0.55/1M