DeepSeek dropped back to its old prices.
Starting 12:00 noon Beijing time, September 10 — Flash series repriced:
- Cache hit: ¥0.02/M tokens (back to historical low)
- Input, no cache: ¥1 (July 16 pricing)
- Output: ¥4 (still double the pre-hike number)
Two months of whiplash: April slasher to ¥0.02 (industry floor), then August 16 peak/off-peak surge of 150%-400%, now September 10 pulling back.
Price cuts are a race to the bottom — Zhipu GLM 5.3 Flash went half-price to poach users, Meta Muse Spark 1.3 pressuring from the other side.