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

The corporate transition will allow OpenAI to raise more money and finally give its board the freedom to consider what its investors want.

OpenAI is planning to convert its for-profit arm to a public benefit corporation in Delaware "with ordinary shares of stock."

The move] would enable us to raise the necessary capital with conventional terms like others in this space.” As part of the transformation, OpenAI’s nonprofit division would retain a stake in the for-profit unit in the form of shares “at a fair valuation determined by independent financial advisors,

The company currently has a for-profit org controlled by a nonprofit, with a “capped profit” share for investors and employees. But in a blog post published Friday, the company says it plans to begin transitioning its existing for-profit into a Delaware Public Benefit Corporation (PBC),