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OpenAI confirms that it is not currently training GPT-5 and doesn't have plans to do so in the near future.

This is in line with my current belief that GPT-4 is pretty close to where LLMs will peak.

There are still a lot of other things that can be done that are more incremental changes, and more area to explore in the multimodal space. Plus work making smaller models that share similar capabilities to GPT-4. As the article says, version numbers can be misleading.

https://www.theverge.com/2023/4/14/23683084/openai-gpt-5-rumors-training-sam-altman