In November 2023, the quantitative trading firm XTX Markets put up US $10,000,000 for a very specific bet: that no publicly-shared AI model could yet solve International Mathematical Olympiad (IMO) problems at gold-medal level. The AI Mathematical Olympiad Prize (AIMO Prize) offers a $5,000,000 grand prize to the first open model that clears that bar, plus up to $5,000,000 in smaller progress prizes along the way, awarded through timed competitions on unseen olympiad-style problems.
The bet matters because language models are notoriously good at sounding right. They can produce a page of confident, beautifully formatted algebra that is subtly, fatally wrong — a wrong turn on line three that cascades into a false conclusion nobody notices unless they check every step. Olympiad geometry, number theory and combinatorics problems are brutal tests for exactly that failure mode: there is no partial credit for vibes, and a single unjustified step invalidates the whole proof.
So AIMO isn't asking "can an AI write something proof-shaped?" It's asking whether a model can produce an integer final answer, under a strict time limit, on problems it has never seen — reasoning that has to survive a much colder kind of scrutiny than a helpful-sounding paragraph.
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