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 ...

OpenAI said its existing for-profit division will become a public benefit corporation, or PBC, "with ordinary shares of stock." The PBC will oversee commercial operations, and the nonprofit will ...

The state’s attorney general asked the company how it plans to transfer assets out of its charitable nonprofit.

The plan faces hurdles. 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 ...

"Our plan is to transform our existing for-profit into a Delaware Public Benefit Corporation⁠ (PBC) with ordinary shares of stock and the OpenAI mission as its public benefit interest," OpenAI ...

OpenAI said its plan would result in one of the best resourced non-profits in history. "The non-profit's significant interest in the existing for-profit would take the form of shares in the PBC at ...