OpenAI is closing in on raising $6.5 billion — the largest venture capital raise in history. But in order to do so it looks like it will need to do the Delaware equivalent of selling its soul — it will have to overhaul its governance structure so that it's no longer controlled by a nonprofit organization.

While OpenAI already has a for-profit division, where most of its staff works, it is controlled by a nonprofit board of directors whose mission is to help humanity.

Reuters reported that OpenAI is working on a plan to restructure its core business into a for-profit benefit corporation, moving away from control by its nonprofit board. The shift marks a dramatic change for the AI company behind ChatGPT,

ChatGPT-maker OpenAI will restructure into a for-profit benefit corporation that will no longer be controlled by its non-profit board.

Enterprise partners and investors may reevaluate their relationship with the company as its priorities shift under the new structure.

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business, people familiar with the matter said, a major shift that would mark the first time Altman is granted ownership in the artificial intelligence startup.

OpenAI is reportedly planning a major shift in its corporate structure, moving away from its original non-profit roots. To attract investors, ChatGPT creator is preparing to reorganise its main operations into a for-profit benefit corporation

OpenAI is discussing giving Chief Executive Officer Sam Altman a 7% equity stake in the company and restructuring to become a for-profit business