OpenAI, under the leadership of CEO Sam Altman, is gearing up for the release of its next-generation AI model, GPT-5, expected to significantly surpass its predecessor, GPT-4, in capabilities. According to various sources, including two people familiar with the company, GPT-5 is slated for a mid-2024 launch, likely during the summer, with some enterprise customers having already received demos describing the new model as "materially better" than GPT-4. Altman has emphasized the substantial leap in performance from GPT-4 to GPT-5, likening it to the jump between GPT-3 and GPT-4, and has hinted at a different approach to releasing GPT-5, suggesting a more iterative process. Despite the anticipation, Altman has indicated that OpenAI has other important releases planned before unveiling the "amazing new model" GPT-5. This strategic move underscores OpenAI's commitment to advancing AI technology and its potential impact on various sectors.