Anthropic unveils Claude Haiku 5.5, its cheapest AI model with adjustable effort setting

Anthropic has announced the release of Claude Haiku 5.5 , positioning it as the cheapest, fastest, and most capable small model in the company’s lineup. The new model represents a significant price reduction from its predecessor, with Anthropic claiming it costs approximately 75% less to run on average than Haiku 4.5 . The release comes as competition in the AI sector heats up, with multiple companies racing to deliver more affordable options for developers managing high-volume, cost-sensitive applications.