A phone maker just outranked OpenAI and Anthropic on the one metric that reflects real usage: tokens actually served. Xiaomi’s MiMo-V2-Pro, a 1T-parameter mixture-of-experts LLM, sits at the top of OpenRouter’s weekly token chart.
What it is and why it’s winning
MiMo-V2-Pro is a text model built for agents and code. It ships a 1M-token context window, so you can feed a whole codebase without chunking, and it scores 78 on SWE-bench Verified — coding on par with the top closed models. The reason it blew up isn’t the benchmark. It’s price: roughly 3-10x cheaper per token than US frontier models, at $1/M input and $3/M output.
The API angle
It’s OpenAI-compatible through OpenRouter and Xiaomi’s own API — swap the base URL and model name, keep your existing agent code. Typical use: long-context coding agents and document analysis where token bills add up fast.
The bigger signal: Chinese models now pull ~45% of all OpenRouter traffic. Developers are picking their default backend on price, not leaderboards.
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