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.

OpenAI, the famous artificial intelligence research organization, is undergoing a significant transformation to enhance its mission of advancing artificial general intelligence (AGI) for the good of all humanity.

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