Which Graph RAG to Choose: GraphRAG v3.1.2 vs LightRAG vs HippoRAG 2 — Design, Cost, and Selection
Same 'knowledge graph + retrieval' label, three different bets: Microsoft GraphRAG v3.1.2 pays indexing cost for global summarization, LightRAG cuts cost with dual-level retrieval and incremental updates, HippoRAG 2 turns RAG into growing associative memory via PPR — this guide splits the trade-offs by component with four query modes, indexing pipelines, and a selection matrix.