vs
0:5
overall capability wins (0 ties across 5 scored). Mercury 2 leads overall.
- Reasoning0:4
- Specs0:1
Verdict
Mercury 2 edges reasoning & knowledge; Mercury 2 offers ~3.9x larger context (128K vs 33K); LFM2.5-1.2B-Instruct ships open weights (LFM License).
- Mercury 2 edges reasoning & knowledge
- Mercury 2 offers ~3.9x larger context (128K vs 33K)
- LFM2.5-1.2B-Instruct ships open weights (LFM License)
Cost for 1M in + 250K out
Illustrative chat workload at primary-provider list prices.
- LFM2.5-1.2B-Instruct
- -
- Mercury 2
- $0.44
Price per 1M tokens
Full comparison
Organization
Liquid AI
Inception Labs
Family
Other
Other
License
LFM License
Proprietary
Open weights
Yes
No
Release
Jan 5, 2026
Sep 1, 2026
Knowledge cutoff
-
-
API / provider
No primary API price listed
Inception Labs
Modalities
text → text
text → text
Specs
Context window
33K
128K
Max output
-
-
Parameters
1.2B
—
Pricing
Input $/1M
—
$0.25
Output $/1M
—
$0.75
Blended $/1M (3∶1)
-
$0.38
Speed
tok/s
-
-
TTFT (s)
-
-
Reasoning
MMLU-Pro
—
—
GPQA Diamond
32.6
77.0
Humanity's Last Exam
6.7
17.1
AIME 2025
—
—
MATH-500
—
—
Humanity's Last Exam (with tools)
—
—
AA-Omniscience Accuracy
7.0
21.2
AA-LCR v1.1
—
43.7
CritPt
—
0.8
MMMU-Pro
—
—
IFBench
43.8
69.8
Chartography
—
—
Chartography (With Tools)
—
—
Coding
SWE-bench Verified
—
—
SWE-bench Pro
—
—
SWE-bench Multilingual
—
—
LiveCodeBench
—
—
Terminal-Bench 2.1
—
27.3
Aider Polyglot
—
—
Terminal-Bench 3
—
—
BigCodeBench
—
—
SciCode
—
37.7
CursorBench
—
—
SWE-Rebench
—
—
NL2Repo-Bench
—
—
DeepSWE
—
—
WebDev Arena
—
1,167
Terminal-Bench 4.0
—
—
CursorBench 4.0
—
—
FrontierCode v1.1 (Main)
—
—
Arena
LMArena Elo
—
—
| Metric | LFM2.5-1.2B-Instruct | Mercury 2 | Delta |
|---|---|---|---|
| Identity | |||
| Organization | Liquid AI | Inception Labs | — |
| Family | Other | Other | — |
| License | LFM License | Proprietary | — |
| Open weights | Yes | No | — |
| Release | Jan 5, 2026 | Sep 1, 2026 | — |
| Knowledge cutoff | - | - | — |
| API / provider | No primary API price listed | Inception Labs | — |
| Modalities | text → text | text → text | — |
| Specs | |||
| Context window | 33K | 128K | B +95K |
| Max output | - | - | — |
| Parameters | 1.2B | — | — |
| Pricing | |||
| Input $/1M | — | $0.25 | — |
| Output $/1M | — | $0.75 | — |
| Blended $/1M (3∶1) | - | $0.38 | — |
| Speed | |||
| tok/s | - | - | — |
| TTFT (s) | - | - | — |
| Reasoning | |||
| MMLU-Pro | — | — | — |
| GPQA Diamond | 32.6 | 77.0 | B +44.4 pts |
| Humanity's Last Exam | 6.7 | 17.1 | B +10.4 pts |
| AIME 2025 | — | — | — |
| MATH-500 | — | — | — |
| Humanity's Last Exam (with tools) | — | — | — |
| AA-Omniscience Accuracy | 7.0 | 21.2 | B +14.2 pts |
| AA-LCR v1.1 | — | 43.7 | — |
| CritPt | — | 0.8 | — |
| MMMU-Pro | — | — | — |
| IFBench | 43.8 | 69.8 | B +26.0 pts |
| Chartography | — | — | — |
| Chartography (With Tools) | — | — | — |
| Coding | |||
| SWE-bench Verified | — | — | — |
| SWE-bench Pro | — | — | — |
| SWE-bench Multilingual | — | — | — |
| LiveCodeBench | — | — | — |
| Terminal-Bench 2.1 | — | 27.3 | — |
| Aider Polyglot | — | — | — |
| Terminal-Bench 3 | — | — | — |
| BigCodeBench | — | — | — |
| SciCode | — | 37.7 | — |
| CursorBench | — | — | — |
| SWE-Rebench | — | — | — |
| NL2Repo-Bench | — | — | — |
| DeepSWE | — | — | — |
| WebDev Arena | — | 1,167 | — |
| Terminal-Bench 4.0 | — | — | — |
| CursorBench 4.0 | — | — | — |
| FrontierCode v1.1 (Main) | — | — | — |
| Arena | |||
| LMArena Elo | — | — | — |
LFM2.5-1.2B-Instruct
- Context
- 33K
- Parameters
- 1.2B
- Price
- —
- Speed
- —
- Modalities
- text → text
- License
- LFM License
Liquid AI's dense, on-device-optimized 1.2B instruct model in the LFM2.5 family, distinct from the MoE LFM2.5-8B-A1B sibling; no hosted API yet.
Mercury 2
- Context
- 128K
- Parameters
- —
- Price
- $0.25 / $0.75
- Speed
- —
- Modalities
- text → text
- License
- Proprietary
Inception Labs' diffusion-based (non-autoregressive) reasoning LLM, API-only with a 128K context window and high-throughput inference on Blackwell GPUs.
Benchmark charts
Winner bars are emphasized. Per-benchmark deltas sit above each chart.