Many fears of an AI bubble had hit a fever pitch at the start of this year when Chinese start-up DeepSeek released a competitive reasoning model.

OpenAI CEO Sam Altman acknowledged the competitive pressure from open-source models influenced their decision. OpenAI had relased its first open models since GPT-2 earlier this month.

OpenAI's CEO called AI both the most important technology in decades and an overhyped bubble — warning that some investors are bound to get burned