Is the AI Winter Finally Upon Us?

(Bloomberg Opinion) — I wrote at the beginning of the year that Wall Street investors should brace for an “AI winter” in 2025; not necessarily a slowdown in investment, and certainly not in hype from the companies, but in tangible progress. Patience would be tested. Some recent events warrant revisiting the question: Is the AI winter upon us? GPT-5, the long-awaited new model from Sam Altman’s OpenAI, was released earlier this month to a tepid reception. If it’s a step toward artificial general intelligence, as the company repeatedly…