Key Takeaways Artificial intelligence startup OpenAI said it needs to raise more capital than expected, and laid out plans for transitioning toward a for-profit structure next year. The ChatGPT maker said its existing for-profit division will become a corporation with ordinary shares of stock.

ChatGPT-maker OpenAI laid out plans Friday for a new corporate structure shifting away from control by a non-profit -- an issue of contention for the artificial intelligence trailblazer.

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