OpenAI was founded as a non-profit in 2015 and has since switched to a "capped" for-profit enterprise allowing for a limited level of money making.
But it has been seeking to become a for-profit public benefit corporation (PBC), which could attract more investment.
In a blog post, the company said it plans to restructure as a PBC, which "requires the company to balance shareholder interests, stakeholder interests, and a public benefit interest in its decision making."
"It will enable us to raise the necessary capital with conventional terms like others in this space," OpenAI added.
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