I would say GPT itself is less an event and more the culmination of decades of research and development in algorithms, hardware, and software. Of course, to some degree, this is true for any novel development. In this case, the convergence of development in GPUs, software to utilize them well while being able to work in very high levels of abstractions, and algorithms that can scale is something I'm not sure we will see again so quickly. All this preexisting research is kind of a resource that will be completely exploited at some point. And then the only thing that can drive you forward are truly novel ideas. Reasoning models were a fairly obvious next step too as the concepts of System 1 and 2 have been around for a while.

You are completely right that the compute and funding right now are unprecedented. I don't feel confident making any predictions.