OpenAI has announced its plans to restructure into a for-profit benefit corporation to manage its growing business and ease restrictions from its non-profit parent. The new structure aims to enhance capital-raising efforts and provide the necessary resources for OpenAI's goal of developing artificial general intelligence (AGI). OpenAI expects that this restructuring will help it compete better in the generative AI market, where rivals like Anthropic and xAI operate under similar frameworks.
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