Mercury 2
Summary
Mercury 2 is a proprietary language model from Inception Labs, released on 24 Feb 2026. It accepts text and generates text, with a 128K-token context window and up to 50K output tokens per response. As of 4 Oct 2026, the lowest listed API price is $0.25 per million input tokens and $0.75 per million output tokens (Inception API), across 2 providers we track.
Reasoning model for deliberate analysis, multi-step problem solving, and tool use
Last verified 4 Oct 2026. Every figure on this page links to its source.
Specifications
| Developer | Inception Labs |
|---|---|
| Release date | 24 Feb 2026 [models.dev] |
| Status | Generally available [models.dev] |
| Weights | Proprietary (API only) [models.dev] |
| Context window | 128K (128,000 tokens) [models.dev] |
| Max output | 50K tokens [models.dev] |
| Knowledge cutoff | 1 Jan 2025 [models.dev] |
| Input | Text [models.dev] |
| Output | Text [models.dev] |
| Reasoning mode | Yes [models.dev] |
| Tool calling | Yes [models.dev] |
| Structured output | Yes [models.dev] |
Mercury 2 API pricing by provider
USD per million tokens. Sorted by input price.
| Provider | Input | Output | Cached input | Context | Source |
|---|---|---|---|---|---|
| Inception API mercury-2 | $0.25 | $0.75 | $0.03 | 128K | models.dev, 4 Oct 2026 |
| OpenRouter inception/mercury-2 | $0.25 | $0.75 | $0.03 | 128K | OpenRouter, 4 Oct 2026 |
Frequently asked questions
What is the context window of Mercury 2?
Mercury 2 has a context window of 128,000 tokens (128K) and can generate up to 50,000 tokens in a single response, according to models.dev.
How much does the Mercury 2 API cost?
Through Inception API, Mercury 2 costs $0.25 per million input tokens and $0.75 per million output tokens. Prices last verified 4 Oct 2026.
Is Mercury 2 open source?
No. Mercury 2 is a proprietary model; Inception Labs has not released its weights. It is available through APIs including Inception API, OpenRouter.
When was Mercury 2 released?
Inception Labs released Mercury 2 on 24 Feb 2026, according to models.dev.
Which providers offer Mercury 2?
We track Mercury 2 on 2 providers: Inception API, OpenRouter.
Change history
No changes detected since we started tracking this model. We re-check every source daily.