Claude Haiku 4.5 (October 1, 2025 version) is Anthropic's fastest and most cost-effective hybrid reasoning model, featuring extended thinking chain capabilities. It approaches Sonnet 4's performance in coding, agent tasks, and multimodal processing (such as text + images), but with over 2x speed improvements and only 1/3 the cost. It supports a 200K token context window (approximately 150K English words), integrates computer use, tool calling, and context-aware features, and is suitable for low-latency scenarios like customer service agents, real-time chat, and multi-agent subtasks. Compared to Haiku 3.5, it significantly outperforms on SWE-bench Verified (73.3%) and MMMU (visual reasoning) benchmarks, making it the ideal choice for budget-sensitive production environments and free-tier products.