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.

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

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.