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’s history as a nonprofit research institute that also sells commercial products like ChatGPT may be coming to an end as the San Francisco company looks to more fully convert itself into a for-profit corporation accountable to shareholders.

OpenAI is planning to convert from a nonprofit organization to a for-profit company at the same time it is undergoing major personnel shifts including the abrupt resignation Wednesday of its chief technology officer,

OpenAI's board is continuing to consider restructuring the company in ways that might change its current control by a non-profit organization, but no final plan has been adopted, according to a source familiar with the matter.

OpenAI is reportedly considering restructuring into a for-profit business, while keeping its non-profit arm separate. The move, disclosed by an anonymous source, aims to simplify the company’s structure for investors and provide greater liquidity for employees.

OpenAI, the generative artificial intelligence backed by Microsoft (NASDAQ:MSFT), is working on a plan to restructure itself and convert itself into a for-profit benefit corporation, Reuters reported.