xAI has not released Grok 5, a large language model still in training since its January 2026 confirmation, with the latest official model being Grok 4.7 shipped on September 21, 2026. Trader sentiment reflects repeated timeline slips—original targets for late 2025, Q1 2026, and Q2 2026 all missed—combined with Elon Musk’s September 14 roadmap placing Grok 4.8 (2.5 trillion parameters) and 4.9 ahead of it. Recent catalysts include the October 25 activation of Colossus 2 supercomputer explicitly tied to Grok 5 training and ongoing 4.x point releases that demonstrate rapid iteration but defer the flagship. Market-implied odds remain low for a 2026 launch, with uncertainty centered on whether reinforcement learning cycles or competitive pressures from other AI labs could accelerate or further delay the AGI-targeted model.