11:16 AM EST, 12/27/2024 (MT Newswires) -- Microsoft ( MSFT )-backed (MSFT) OpenAI is looking at reorganizing itself to become a Delaware public benefit corporation in order to raise conventional capital while maintaining a nonprofit arm, according to an OpenAI blogpost Thursday.

OpenAI currently operates as both a nonprofit and for-profit entity, supported by investments from Microsoft ( MSFT ) and other companies as well as from venture capitalists.

OpenAI said its board is reviewing its corporate structure as it seeks to become "more than a lab and a startup," in consultation with external legal and financial experts.

The ChatGPT developer said that as a public benefit corporation, it will have both its ordinary shares of stock and the its nonprofit mission as its public benefit interest.

"The PBC will run and control OpenAI's operations and business, while the non-profit will hire a leadership team and staff to pursue charitable initiatives in sectors such as health care, education, and science," it said.

Microsoft ( MSFT ) did not immediately reply to MT Newswires' request for comment.

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