ChatGPT-parent OpenAI has reportedly been gearing up to launch a significantly improved version of its popular AI tool by the middle of this year. What Happened: The new model, GPT-5, is expected to be a significant upgrade from its predecessor, GPT-4, which has been facing performance issues. The new model is anticipated to be released in the summer, with some enterprise customers already receiving demonstrations of its capabilities, people familiar with the company told Business Insider, One CEO who witnessed a version of GPT-5 described it as “really good, like materially better.” The new m…