Summary
On July 24, 2026, Anthropic released Claude Opus 5, a new frontier model priced at $5/$25 per million input/output tokens — unchanged from Opus 4.8 and roughly half the cost of Claude Fable 5 — with near-flagship quality, a large context window, and a May 2026 knowledge cutoff. It rolled out as the top model on Claude Max and Claude Pro.
What changed
Anthropic shipped Claude Opus 5, a new frontier model with a 1M-token context window and 128K max output at $5/$25 per million input/output tokens. It ships as the default on Claude Max, the strongest model on Claude Pro, and adds safety features including an Auto Mode that scans inputs and blocks risky tasks.
Why it matters
Holding Opus-tier pricing flat while nearly matching Fable 5 quality resets the price-performance frontier for agentic coding and long-context work, pressuring rivals to justify premium pricing. The 1M-token window and computer-use gains target long-running agent workloads where context size and token cost dominate operating economics.
Evidence excerpt
Claude Opus 5 launched July 24, 2026 at $5/$25 per million input/output tokens (same as Opus 4.8, half of Fable 5's $10/$50), with a 1M-token context window, 128K max output, and a May 2026 knowledge cutoff; it is the new default on Claude Max.