Sky-T1-32B-Preview is an inference model developed by the NovaSky team at UC Berkeley. The model excels in popular inference and programming benchmarks, matching the performance of o1-preview, with training costs under $450. It demonstrates the potential for efficient replication of advanced inference capabilities at low costs. The model is fully open-source, including data, code, and model weights, aimed at driving the advancement of the academic and open-source communities. Its main advantages are low cost, high performance, and open-source accessibility, providing valuable resources for researchers and developers.