OpenAI on Friday laid out a plan to transition its for-profit arm into a Delaware public benefit corporation (PBC) to help it raise capital and stay ahead in the costly AI race against companies such as Google.

Announcing restructuring plans, OpenAI said on Friday it would establish a public benefit company to make it simpler to raise more capital than it had imagined, and lift the restrictions placed

Market watchers have said an initial public offering from OpenAI seems unlikely in 2025 given that it’s been able to raise billions of dollars in backing in private markets, inc