金吾财讯 | 华泰证券表示，25年1月31日，OpenAI正式上线o3-mini，从发布时间和模型性能看，符合24年12月OpenAI发布会的预期。o3-mini通过ChatGPT Plus/Team/Pro订阅，以及API方式提供，Plus/Team订阅用户的o3-mini使用限额为每天150条，开发人员则可以选择模型的（低/中/高算力）三种推理模式来优化其特定用例。o3-mini模型延续了模型降价趋势，OpenAI指出自推出GPT-4以来，token的定价降低了95%，同时保持了优秀的推理能力。此外，DeepSeek性能和开源生态已经引起了海外头部模型厂商重视，OpenAI CEO表示R1“impressive”，并且指出后续可能找到不同的开源策略，有望重拾模型开源。该行认为，2025年或是开源模型快速进步的一年，国产大模型进展值得关注。
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