OpenAI has laid out plans to become a for-profit company. In a blog post published on Friday, OpenAI’s board said it will replace the company’s existing structure with one that puts control into the hands of its for-profit arm.

ChatGPT developer OpenAI has announced its new company structure. Non-profit status also plays a role in the new legal form.

OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent.

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Facebook founder and Meta CEO Mark Zuckerberg has written a letter to the US government: It should stop OpenAI's for-profit plans.

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