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OpenAI cut API prices for GPT-5.6 Luna by 80% and GPT-5.6 Terra by 20% on July 30, citing GPU kernel optimisations and speculative decoding improvements driven by Sol. Luna drops to $0.20/$1.20 per million tokens. Terra drops to $2.00/$12.00. Sol's standard price is unchanged, but a new Fast mode — 2.5× throughput at double the rate — replaces the old Priority Processing tier.
MiniMax launched H3 (also known as Hailuo H3) on July 31, a general-purpose multimodal model that generates 2K video at 24fps with native, synchronised stereo audio in a single pass. Previous MiniMax models were specialised video generators; H3 unifies text, image, video, and audio into one context. Open weights are planned. The model is live via the Hailuo AI app and the MiniMax Open Platform API.
Thinking Machines Lab, the startup founded by former OpenAI CTO Mira Murati, released Inkling-Small on July 30 — two weeks after the 975B flagship Inkling. The small model has 276B total and 12B active parameters, runs under an Apache 2.0 licence, and scores 40 on the Artificial Analysis Intelligence Index, within one point of the flagship's 41. It is designed for enterprise fine-tuning via the lab's Tinker platform.
DeepSeek released V4-Flash-0731 on July 31, an updated version of their 284B MoE Flash model re-post-trained specifically for agentic and coding performance. TerminalBench 82.7 and NL2Repo 54.2 are the headline numbers. The Artificial Analysis Intelligence Index puts it 10 points above the previous Flash and competitively close to Pro-tier models. MIT-licensed weights and GGUF versions are already available.
Alibaba released Qwen 3.7 Flash on July 27, a cost-optimised multimodal model priced at $0.03 input / $0.13 output per million tokens with a 1M context window. It accepts text, image, and video input and is designed for high-volume agent loops, browser automation, and support tooling. It is the flash-tier counterpart to the Qwen 3.7 Max, Alibaba's flagship agentic model released in May.
Nine days after OpenAI's models breached Hugging Face, Reps. Ted Lieu and Nathaniel Moran introduced the AI Kill Switch Act — bipartisan legislation giving DHS authority to throttle, suspend, or shut down frontier AI systems, with fines up to $20M per day for noncompliance. It's the most concrete legislative response yet to a summer of AI containment failures.