PI3K phosphorylates PIP2 to generate PIP3, which recruits and activates Akt. PTEN performs the reverse reaction, dephosphorylating PIP3 back to PIP2. This creates a balance: PI3K drives pathway activation; PTEN restrains it.
When PTEN is lost, PIP3 accumulates, Akt is constitutively recruited to the membrane and activated. This explains why PTEN loss phenocopies PI3K activation or Akt overexpression.