**Grok 5 remains unreleased as of November 2026, with xAI’s latest official model Grok 4.7 shipping in September on the API.** Multiple prior targets—end of 2025, Q1 2026, and Q2 2026—have slipped, while Elon Musk’s August 2026 comments on a SpaceX earnings call set an end-of-year window that traders now price at low single-digit odds. A September roadmap explicitly sequenced Grok 4.8 and 4.9 ahead of Grok 5, extending the timeline. The model has been in training on the Colossus 2 cluster since January 2026 with no public benchmarks, model card, or confirmed capabilities released. Competitive pressure from higher-scoring frontier models at other labs and xAI’s pattern of iterative releases continue to shape low near-term implied probabilities, with market focus now on early 2027 catalysts such as further Musk updates or cluster scaling announcements.