Frontier Models
GPT-5.5 “Spud” Nears Release — Polymarket Puts 78% Odds on April Launch
OpenAI’s next model completed pretraining on March 24 and prediction markets are betting heavily that it ships before the month is out. The question is no longer whether, but what name it wears when it arrives.
OpenAI’s next frontier model, internally codenamed “Spud,” completed its pretraining run on March 24 and has entered the safety evaluation and red-teaming phase that typically precedes a public release. A Polymarket contract tracking whether the model ships before April 30 currently trades at seventy-eight cents — reflecting strong consensus among prediction-market participants that a launch is imminent. Sam Altman described the model as “very strong” and suggested it could “really accelerate the economy,” while co-founder Greg Brockman characterized it as the culmination of “two years of research.”
The naming remains an open question. Whether it ships as GPT-5.5 or leapfrogs to GPT-6 will depend on how its benchmark performance compares to the existing GPT-5 series. Industry observers note that the distinction matters less for capability than for marketing: the version number signals to enterprise buyers and developers how much of a generational jump to expect, and OpenAI has historically been deliberate about when it increments the major version. Regardless of the label, the model is expected to represent a significant step forward in reasoning, multilingual fluency, and agentic task completion.
The timing is notable. With Anthropic’s Mythos revelations dominating security headlines this week and DeepSeek V4 still rolling out, a Spud release would ensure that no single lab dominates the narrative for long. The frontier-model release cadence has compressed from roughly annual to quarterly, and the market’s confidence in an April launch suggests that cadence is still accelerating.