OpenAI’s time as a unique nonprofit tech company guiding one of the more transformative and well-known iterations of artificial intelligence is coming to an end. The San Francisco company behind ChapGPT revealed Friday that it intends to become a public benefits company,

One of OpenAI’s co-founders, billionaire Elon Musk, has filed for an injunction to halt the company’s transition to a for-profit, accusing OpenAI of abandoning its original philanthropic mission. Musk has also alleged that OpenAI has deprived his own AI company, xAI, of capital by extracting promises from investors not to fund it.

ChatGPT maker OpenAI said it needs to raise more capital than expected, and laid out plans for transitioning toward a for-profit structure.

OpenAI revealed that it will restructure into a new type of for-profit company, but still with a non-profit arm.

OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.

OpenAI CEO Sam Altman has said that his company was made “unusual” on purpose. Now, that unusualness is getting in the way of raising more money from investors. In a Friday blog post, the company behind the popular AI chatbot ChatGPT said its board is deep into planning how OpenAI will “become more than a lab and a startup” in 2025.

OpenAI said it will be restructured as a public benefit corporation, and the nonprofit that controls the organization would receive shares in the new company.

OpenAI on Friday outlined plans to revamp its structure, saying it would create a public benefit corporation to make it easier to "raise more capital than we'd imagined," and remove the restrictions imposed on the startup by its current nonprofit parent.