The world will go crazy. But the period of craziness will only be a couple of weeks. The debate is over the impact if AGI, artificial general intelligence, is reached. We have many kinds of specialized artificial intelligence that can do particular jobs. We do not hae artificial general intelligence, that can do anything a person can do. Some think AGI well be achieved in the near future. Beddoes wants to know if this will be an "incremental" change, just a small difference; or whether it will be "radical," the end of the world as we know it, a permanent change in human history. Altman is minimizing it. He says it will not be very important. The world will have "a freakout" but it will only last a couple of weeks.

It's used here to emaphasise the limited yet significant duration of the displeaure. It isn't terribly mature or filled with gravitas to use such phrasing: in fact, it sounds like US teenagers using low-brow, inarticulate soap speak.

You can put any time before ‘freakout’ to indicate how long someone is freaking out for. Two week freakout means they were freaking out for two weeks, you could say one week freakout, one month freakout. But, this is not a common expression (at least where I am from) so I would not focus on using or remembering it.