Evolving OpenAI’s structure

OpenAI announces it will restructure its for-profit LLC into a Public Benefit Corporation (PBC), matching the structure used by Anthropic and xAI, while keeping the nonprofit in control and giving it a significant equity stake. The capped-profit model is being abandoned in favor of standard stock ownership, allowing OpenAI to raise the trillions of dollars it believes are needed for AGI. The nonprofit retains oversight of the PBC following discussions with California and Delaware AGs and Microsoft.