This speculative article explores the idea that GPT-5 might already exist internally at OpenAI but is being withheld from public release due to cost and performance considerations. It draws parallels with Anthropic's handling of a similar situation with Claude Opus 3.5, suggesting that both companies might be using larger models internally to improve smaller models without incurring high public-facing costs. The author examines the potential motivations behind such decisions, including cost control, performance expectations, and strategic partnerships.