I don't think so. It's just a bubble. There's no AI, we have fancy chatbots. If someone were to achieve AGI, maybe they win, but it's unlikely to exist. Or if it does, we can't define it.
Hint: Researchers from both companies said publicly they employ generalized reasoning techniques in these IMO models.
"Fancy chatbots" is a classic AI use case. ELIZA is a well-known example of early AI software.