Ray3 is the world's first video model with reasoning capabilities, supported by Luma Ray3. It can think, plan, and create professional-grade content, with native HDR generation and intelligent draft mode for fast iteration. Key advantages include: reasoning intelligence that deeply understands prompts, plans complex scenes, and self-reviews; providing native 10-, 12- and 16-bit HDR videos suitable for professional studio workflows; draft mode generates 20 times faster, enabling quick concept refinement. Pricing includes a free version, a $29 Pro version, and a $99 Studio version. Positioned to meet the video creation needs of different user groups, from exploration to professional and commercial applications.