Another possibility is that OpenAL thinks _none_ of the labs will achieve AGI in a meaningful timeframe so they are trying to cash out with whatever you want to call the current models. There will only be one or two of those before investors start looking at the incredible losses.
The least speculative: PPUs will be converted from capped profit to unlimited profit equity shares at the benefit of PPU holders and at the expense of OpenAI the nonprofit. This is why they are doing it.
* The nonprofit is staying the same, and will continue to control the for-profit entity OpenAI created to raise capital
* The for-profit is changing from a capped-profit LLC to a PBC like Anthropic and Xai
* These changes have been at least tacitly agreed to by the attorneys general of California and Delaware
* The non-profit won’t be the largest shareholder in the PBC (likely Microsoft) but will retain control (super voting shares?)
* OpenAI thinks there will be multiple labs that achieve AGI, although possibly on different timelines