“The nonprofit status significantly reduces OpenAI’s ability to raise capital, as investors would want to be able to generate a return on their investment, which is considerably harder if a non-profit controls a commercial entity,” said Gil Luria, analyst at D.A. Davidson.

The updated plan comes amid criticism from former business partner Elon Musk and others that the company was deviating from its original mission.

The nonprofit will continue to control the company that makes ChatGPT and other artificial intelligence products.