OpenAI said it will be restructured as a public benefit corporation, and the nonprofit that controls the organization would receive shares in the new company.

OpenAI is planning to convert its for-profit arm to a public benefit corporation in Delaware "with ordinary shares of stock."

OpenAI on Friday laid out a plan to revamp its corporate structure next year, saying it would create a public benefit corporation to manage its growing business and ease the restrictions imposed by its current non-profit parent.

A company status page showed ChatGPT and the company’s application programming interface (API) experiencing a “major” outage, while Sora had a “partial” outage. More than 12,000 people reported OpenAI-related in the last 24 hours, according to the monitoring site Downdetector.

ChatGPT, the artificial intelligence chatbot developed by OpenAI, is experiencing an outage on Thursday afternoon. According to Downdector.com, thousands of users have reported outages after a surge in reports beginning around 10:20 a.