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2727* **Context:** 1M tokens is roughly 555k words or 2.5M Unicode characters on the current tokenizer (introduced with Claude Opus 4.7); models before it fit about 750k words in 1M tokens. 200k tokens is roughly 150k words.
2828* **Max output:** Synchronous Messages API limit. On the Message Batches API, Claude Opus 5, Claude Sonnet 5, Claude Opus 4.8, Claude Opus 4.7, Claude Opus 4.6, and Claude Sonnet 4.6 support up to 300k output tokens with the output-300k-2026-03-24 beta header.
29* **Price / MTok:** Input / output, base price per million tokens. Batch API requests are 50% off; prompt caching reads cost 10% of the base input price. See Pricing for the full list.
29* **Price / MTok:** Input / output, base price per million tokens. Batch API requests are 50% off; prompt caching reads cost 10% of the base input price (2.5% on Claude Fable 5.1 and Claude Mythos 5.1). See Pricing for the full list.
3030* **Thinking:** Adaptive thinking lets the model decide how much to think, steered by effort. Extended thinking is the manual budget\_tokens mode on earlier models.
3131* **Default effort:** The effort parameter’s default on the Claude API. Models without a value don’t support the parameter.
3232* **Knowledge cutoff:** Reliable knowledge cutoff: the date through which the model’s knowledge is most extensive and reliable.