Thinking Machines released Inkling-Small on July 30: an open-weights model with 276 billion total but only 12 billion active parameters. Despite being roughly a quarter the size of the company's 975-billion-parameter Inkling, it scores higher on coding benchmarks — 80.2% versus 77.6% on SWE-bench Verified — while costing around $0.30/$1.20 per million tokens. The company concedes the smaller model knows fewer facts and trails on some agentic tasks.