HomeEverything
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
← All Stories

Meituan Unveils LongCat-2.0 AI Model, Previously Known as Owl Alpha

Created at 1 Jul · 8:25 PM1 source↑ Market-relevant
IN SHORT

Chinese tech company Meituan has officially launched LongCat-2.0, a 1.6-trillion-parameter AI model. Previously operating anonymously as Owl Alpha on OpenRouter, the model achieved high rankings in various benchmarks before its official unveiling. Meituan highlights its competitive pricing and efficient architecture.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

1.6 trillionLongCat-2.0 parameters
~48 billionactive parameters per token
35 trilliontokens used in pretraining
50,000+domestically produced accelerators used in training
$0.75per million input tokens (standard API pricing)
$2.95per million output tokens (standard API pricing)
$0.30/$1.20promotional API pricing
$60for 1 billion tokens (token plan)
59.5SWE-bench Pro score
58.6GPT-5.5 SWE-bench Pro score
54.2Gemini 3.1 Pro SWE-bench Pro score
73.2FORTE score
77.8GPT-5.5 FORTE score

Who's Involved

Meituan
Chinese tech company that unveiled LongCat-2.0
LongCat-2.0
1.6-trillion-parameter AI model previously known as Owl Alpha
Owl Alpha
Anonymous alias for LongCat-2.0 on OpenRouter
Hermes Agent
Workspace where LongCat-2.0 ranked first
Claude Code
Platform where LongCat-2.0 ranked second
OpenClaw
Deployment where LongCat-2.0 ranked third
DeepSeek
Company whose V4-Pro model was compared
Xiaomi
Company whose MiMo-V2.5 Pro model was compared
Meituan Unveils LongCat-2.0 AI Model, Previously Known as Owl Alpha

↳ Why This Matters

The launch of LongCat-2.0 signifies a significant advancement in China's domestic AI capabilities, particularly in developing large-scale models on its own hardware. Its competitive pricing and performance could disrupt the market for AI services, making advanced AI more accessible for developers and businesses, especially those focused on coding agents and high-volume tasks.

Key facts

  • Meituan officially launched LongCat-2.0, a 1.6-trillion-parameter AI model, on June 30.
  • The model operated anonymously as Owl Alpha on OpenRouter, achieving top rankings in call volume.
  • LongCat-2.0 utilizes a mixture-of-experts architecture with approximately 48 billion active parameters per token.
  • It was trained end-to-end on domestic Chinese ASICs.
  • API pricing is competitive at $0.75 per million input tokens and $2.95 per million output tokens.

Meituan has officially launched LongCat-2.0, a large-scale AI model with 1.6 trillion parameters. This model had been operating anonymously for two months on OpenRouter under the alias Owl Alpha, where it achieved top rankings in call volume across platforms like Hermes Agent, Claude Code, and OpenClaw.

LongCat-2.0 is a mixture-of-experts model that activates approximately 48 billion parameters per token, with this number fluctuating based on query complexity. Meituan emphasizes that this is the first trillion-parameter model trained and deployed entirely on domestic Chinese ASICs, highlighting a move towards reduced reliance on U.S. hardware for AI development. The company stated that the extensive pretraining run, involving over 35 trillion tokens on more than 50,000 accelerators, was completed without significant issues.

The model's pricing is a key selling point, with standard API access set at $0.75 per million input tokens and $2.95 per million output tokens, significantly undercutting competitors like GPT-5.5 and Claude Sonnet 5. Promotional rates are even lower. Meituan also offers a token plan for heavy users. In testing, LongCat-2.0 performed adequately for coding tasks, though it showed limitations in handling complex logic and scaling issues in game development scenarios.

Meituan attributes the model's efficiency to techniques such as LongCat Sparse Attention, which processes only relevant parts of long conversations, and an N-gram embedding system that enhances language understanding by recognizing phrases as single concepts. The model also integrates specialized systems for agentic coding, reasoning, and conversation, with a routing mechanism directing requests to the appropriate specialist. On benchmarks like SWE-bench Pro and FORTE, LongCat-2.0 achieved competitive scores, surpassing some established models in specific tasks.

Frequently asked questions

LongCat-2.0 is a 1.6-trillion-parameter AI model developed by Meituan. It was previously known as Owl Alpha and operated anonymously on OpenRouter.

It is the first trillion-parameter model trained and deployed end-to-end on domestic Chinese ASICs, and it offers competitive pricing for API access.

In quick tests, it performed adequately and was cost-effective, though it showed limitations in complex logic and target-switching in game development scenarios.

Standard API pricing is $0.75 per million input tokens and $2.95 per million output tokens, with promotional rates and token plans available.

What Happens Next

01Meituan has not set a date for when model weights will be available for self-hosting.
02Further iterations and improvements to LongCat-2.0's logic are expected.

Get the newsletter.

Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

Cadence

How It Developed

Meituan officially unveiled LongCat-2.0 on June 30.
The model was previously known as Owl Alpha on OpenRouter.
LongCat-2.0 ranked highly on Hermes Agent, Claude Code, and OpenClaw by call volume.
The model uses a 1.6-trillion-parameter mixture-of-experts architecture with approximately 48 billion active parameters per token.
It was trained on domestic Chinese ASICs.
Meituan claims the training run was stable and completed without significant issues.
API pricing is set at $0.75 per million input tokens and $2.95 per million output tokens, with promotional rates available.
The model's performance in coding tests was noted as good for its price point, though it had limitations in complex scenarios.

Sources

T1
LongCat-2.0: The Stealth AI Model That Was Quietly Topping OpenRouter All AlongDecrypt

Related Stories

Together AI raises $800M at $8.3B valuation
1 Jul · 6:50 PM
China's Kling AI reportedly seeking $3B at $18B valuation
1 Jul · 12:30 PM
AI Startup Oxmiq Raises $35 Million for Chip Architecture
1 Jul · 1:19 PM
OpenClaw AI agent now available on iOS and Android
30 Jun · 10:20 PM
Anthropic Co-founder Tom Brown Becomes Key Diplomat in AI Negotiations
1 Jul · 4:40 PM