It looks like Grant Paul, aka Chpwn, has already jailbroken the iPhone 5! This tweet was posted by chpwn, a popular jailbreak developer moments ago. The picture shows an iPhone 5 running iOS 6 with Cydia installed. It's the first day of the iPhone 5 launch, guys!
iClarified has confirmed that:
We've also independently confirmed that the iPhone 5 is indeed jailbroken. We don't know any further information or whether the jailbreak will be released publicly.
This is awesome news, for this to 1). Come from a respected jailbreak dev, and 2). For it to come on the same day of the iPhone 5 release. It also means that there is hope for jailbreaking A5X devices on iOS 6 as well.
Chpwn has posted a new photo showing Cydia running on the iPhone 5, you gotta see it!
via iclarified via idownloadblog