DeepSeek Reasoner V3.2: Specs, Pricing & Key Features

DeepSeek Reasoner V3.2 is the thinking mode of DeepSeek V3.2 — a 685-billion-parameter model that generates extended chain-of-thought reasoning traces before delivering its final answer. Accessed via the API alias deepseek-reasoner, it is designed for tasks where accuracy on complex, multi-step problems matters more than response speed. It scored 66 on Artificial Analysis's Intelligence Index, ranking as the second most intelligent open-weight model available and placing ahead of Grok 4 and Claude Sonnet 4.5 Thinking.

This guide explains exactly what DeepSeek Reasoner V3.2 is, how it differs from the standard V3.2 and from DeepSeek R1, what it's best for, and how to access it — including through Chat Smith.

DeepSeek Reasoner V3.2 is not a separate model — it is DeepSeek V3.2 running in thinking mode. The underlying architecture is identical to standard V3.2: a 685-billion-parameter Mixture of Experts (MoE) model with DeepSeek Sparse Attention (DSA). What changes is the inference behavior: in thinking mode, the model generates a full internal chain-of-thought reasoning trace — visible in the reasoning_content field of the API response — before producing its final answer.

On DeepSeek's API, this mode is accessed by calling the model ID deepseek-reasoner. The alias was previously mapped to DeepSeek R1, then upgraded through each generation — V3.1-Terminus thinking, V3.2-Exp thinking — and now points to V3.2's thinking mode. When you call deepseek-reasoner today, you are running V3.2 with extended reasoning enabled.

The key capability that distinguishes it from DeepSeek R1: Reasoner V3.2 supports tool use during thinking. It preserves its reasoning trace across tool calls within a single user turn — so when an agent calls 10 tools to answer one question, the model doesn't have to re-reason the problem from scratch after each tool result. This makes it significantly more effective for real agentic pipelines than R1.

When you send a query to Reasoner V3.2, the model doesn't immediately return an answer. It first works through the problem internally — breaking it into sub-problems, exploring approaches, verifying intermediate steps, and self-correcting where needed. This thinking trace can run to 163K tokens for hard problems. On the 2025 AIME benchmark, the model averages approximately 23,000 output tokens per problem, compared to just a few hundred for a standard chat response.

The critical engineering improvement over R1: when Reasoner V3.2 calls a tool and receives a result, it keeps its reasoning trace intact. The model remembers what it was thinking before the tool call and continues from there. Only when a new user message arrives does the thinking trace reset. For multi-tool agentic tasks — searching the web, running code, querying a database — this continuity dramatically improves coherence and reduces redundant reasoning.

The 163K context window is made practical by DSA, which scales attention at near-linear complexity rather than the quadratic cost of standard transformers. This means Reasoner V3.2 can handle very long reasoning chains and large input documents without the cost explosion that would normally make such context lengths prohibitive.

In thinking mode, DeepSeek V3.2 scores 66 on the Artificial Analysis Intelligence Index — placing it as the second most capable open-weight model available, ahead of Grok 4 (65) and Claude Sonnet 4.5 Thinking. Here is how it compares on key benchmarks:

One important caveat: Reasoner V3.2 uses significantly more tokens than pure reasoning competitors on some benchmarks. On Codeforces, it averages roughly 77K output tokens versus Gemini 3.0 Pro's 22K. Higher accuracy comes at higher token cost — a trade-off to factor into production budgeting.

Both are accessed via the deepseek-reasoner API alias historically, but they are different models at different points in time. Here is a practical comparison:

In short: Reasoner V3.2 is faster, cheaper, and more capable for agentic use cases than R1. R1 remains a landmark model for its role in proving open-source reasoning was viable, but for production reasoning tasks today, DeepSeek Reasoner V3.2 is the better choice.

• Complex mathematics: Multi-step proofs, competition-level problems, and quantitative analysis where each step must be verified. Pair it with an AI math solver for guided, step-by-step solutions.
• Multi-step agentic tasks: Workflows that require the model to reason, call tools, process results, and continue reasoning — all without losing track of the original problem. The thinking trace retention makes this far more coherent than with R1.
• Long-context analysis: With 163K tokens of combined input and reasoning output, the model can process large documents and reason deeply about their contents. An AI PDF summarizer is a natural companion for document-heavy research tasks.
• Advanced coding: Debugging complex bugs, designing algorithms, or analyzing large codebases. Reasoner V3.2 approaches coding problems the way a senior engineer would — thinking through edge cases before writing a solution.
• Science and research: Physics, chemistry, and biology problems that require structured reasoning across multiple steps. Works well alongside an AI homework solver for educational contexts.

• DeepSeek API: Call model='deepseek-reasoner' via platform.deepseek.com. The API is OpenAI-compatible. Pricing: $0.28 per 1M input tokens, $0.42 per 1M output tokens. Note: the legacy aliases deepseek-chat and deepseek-reasoner were deprecated on July 24, 2026 — check DeepSeek's changelog for current model IDs.
• Third-party providers: Available via OpenRouter and Vercel AI Gateway under the model ID deepseek/deepseek-v3.2 with the reasoning parameter enabled.
• Self-hosting: Download DeepSeek V3.2 weights from Hugging Face (MIT License) and enable reasoning mode via your inference stack. Full model requires approximately 1,645 GB GPU memory at FP16.
• Chat Smith: Access DeepSeek Reasoner V3.2 alongside GPT, Claude, and Gemini — no API key or setup required. Explore the full AI model library to compare models side by side.

Chat Smith is an AI chatbot that gives you one-click access to DeepSeek Reasoner V3.2 without needing to configure an API key or manage infrastructure. This is particularly useful when you want to test how the model handles your specific reasoning tasks before committing to a production integration.

For tasks where you need to compare reasoning quality, Chat Smith lets you run the same problem through DeepSeek Reasoner V3.2, Gemini 2.5 Pro, and GPT o3 in the same session — making it easy to identify which model handles your specific workload best.

DeepSeek Reasoner V3.2 is the most capable open-weight reasoning model currently available — faster and cheaper than R1, with the critical addition of thinking-persistent tool use that makes it practical for real agentic workflows. At $0.28 per million input tokens under an MIT License, it brings frontier-quality reasoning to a price point that closed models cannot match.

Try it without any setup on Chat Smith — all DeepSeek models, GPT-5, Claude, and Gemini in one free app.