GPI is a facility instrument designed for the direct detection and characterization of young Jupiter mass exoplanets. GPI has helped establish that the occurrence rate of Jovian planets peaks near the snow line (~3 AU), and falls off toward larger separations. This motivates an upgrade of GPI to achieve deeper contrasts, especially at small inner working angles, to extend GPI's operating range to fainter stars, and to broaden its scientific capabilities, all while leveraging its historical success. GPI was packed and shipped in 2022, and is undergoing a major science-driven upgrade. We present the status and purpose of the upgrades including an EMCCD-based pyramid wavefront sensor, broadband low spectral resolution prisms, new apodized-pupil Lyot coronagraph designs, upgrades of the calibration wavefront sensor and increased queue operability. We discuss the expected performance improvements and enhanced science capabilities to be made available in 2024.